货币的非国家化

page 80

Where I· differ from the majority of other 'monetarists' and in particular from the leading representative of the school, Professor Milton Friedman, is that I regard the simple quantity theory of money, even. for situations where in a given territory only one kind of money is employed, as no more than' a useful rough approximation to a really adequate explanation, which, however, becomes wholly useless where several concurrent distinct kinds of money are simultaneously in use in.the same territory. Though this defect becomes serious only with· the multiplicity of concurrent currencies which we· ar.e considering here, the phenomenon of substitution of things not counted as money by the theory for 'what is counted as money by it always impairs the strict validity ofits conclusions.Its chief defect in any situation seems to me to be that by its stress on the effects of changes in the quantity of money on the general level of prices it directs all-too exclusive attention to the harmful effects of inflation and deflation on the credit or debtor relationship, but disregards the even more important and harmful effects of the injections and withdrawals of amounts of money from circulation on the structure of relative prices and the consequent misallocation of resources and particularly the misdirection of investments which it causes.

page 84

I am in complete agreement with Professor Friedman on the inevitability of inflation under the existing political and financial institutions. But I believe that it will lead to the destruction of our civilisation unless we change the political framework.In this sense I will admit that my radical proposal concerning money will probably be practicable only as part of a much more far-reaching change in our political institutions, but an essential part of such a reform which will be recognised as necessary before long.

page 95

What is called a cost-push inflation is mer~ly the effect of increases in the quantity of money which governments feel forced to provide in order to prevent the unemployment resulting from a rise in wages (or other costs), which preceded it and which was conceded in the expectation that government would increase the quantity of money.

page 102

The past instability of the market economy is the consequence of the exclusion of the most important regulator of the market mechanism, money, from itself being regulated by the market process.

page 105-106

The abolition ofcentral banks. No fixing of rates of interest

page 111

Not so very long ago, in 1960, I myselfargued that it is not only impracticable but probably undesirable even if possible to deprive governments of their control over monetary policy. 1 This view was still based on the common tacit assumption that there must be in each country a single uniform kind of money.

page 113

History certainly disproves the suggestion that in this respect government, which only profits from excessive issues, can be trusted more than a private issuer whose whole business depends on his not abusing that trust. Does anyone really believe that in the industrial countries of the West, after the experience of the last half-century, anybody trusts the value of government-sponsored money more than he would trust money issued by a private agency whose business was understood to depend wholly on its issuing good money?

哈耶克的《货币的非国家化》一书，看书名就让人脑洞大开。国家发行法定货币，似乎是天经地义的事情，在哈耶克之前，似乎没有人怀疑过。货币只能由国家发行吗？思考一下这个问题，整个法币神话的根基就摇摇欲坠了。

书还在看，其中第六章讨论了劣币良币的问题。提出，劣币并非必然驱逐良币。劣币驱逐良币是有一个前提的，即国家强制规定劣币的兑换比例，强迫人们接受劣币与良币等值。这样一来，人们将留存实际价值更高的良币，把价值虚高的劣币尽快使用出去，以免进一步贬值。结果，市面上流通的都是劣币，良币不见了，造成劣币驱逐良币的现象。

以上情况，在罗马帝国晚期真实发生过。罗马帝国晚期，国家经济实力下滑，罗马皇帝在铸币上越来越没有操守，银币纯度一再下降。并且，通过法令，强制居民用帝国早期高纯度的银币兑换后期的劣币。结果，优质的早期银币被罗马人整坛整箱埋在地下，直到一千多年后被考古发掘出来，放入博物馆陈列，那些银币还是闪闪发光，几乎没有流通使用的痕迹。

劣币驱逐良币这一经济学典故，现在也被运用到很多方面。我们引申思考一下，在很多引申方面，劣币也一样未必驱逐良币，劣币之所以驱逐良币，是否也存在强制兑换比例一样的隐含条件呢？

比如，人们用劣币驱逐良币形容企业、部门中，庸才排挤掉良才的现象。是否可以认为，庸才之所以能够驱逐良才，也有一个前提条件，即庸才和良才的薪酬待遇、晋升机会一样，那么良才会选择出走，或者偷懒，沦落为庸才。

因此，不是劣币必然驱逐良币，庸才必然排挤良才，而是对货币、人才的评价机制出了问题。

政客就像铸币，劣者会驱逐良者。。。莫名戳中笑点

且看今年美帝税收季，AZ关于比特币纳税的法案能不能通过。看起来还是至关重要的大事件