Good Money, Part I

This exceptional volume brings together seven of F. A. Hayek’s most influential early writings from the 1920s, exploring his deep fascination with the nature of money. It stands as a masterclass in monetary theory, offering a profound critique of price and exchange rate stabilization.

Carefully compiled and edited with an expert introduction by Stephen Kresge, former general editor of The Collected Works of F. A. Hayek, this book illuminates a crucial period in the intellectual development of F. A. Hayek, bridging the gap between historical monetary policy and modern liberal economics.

A Powerful Critique of Monetary Stabilization

The essays in "The New World" challenge the conventional economic wisdom that fixing price levels can be seamlessly aligned with stable foreign exchange. Hayek’s rigorous analysis dissects the intricate mechanics of currency, inflation, and market interventions, making this volume an indispensable asset for advanced seminars and academic research on the history of the Austrian School.

Foundational Papers and Sharp Economic Insight

Beyond his famous later works, this collection captures Hayek at the beginning of his brilliant career, offering readers a rare look at the precise arguments that laid the groundwork for his global reputation as a monetary pioneer.

About the Author F. A. Hayek

Friedrich August von Hayek (1899–1992) was a towering figure of 20th-century economics, co-winning the Nobel Memorial Prize in Economic Sciences in 1974 and receiving the Presidential Medal of Freedom in 1991. As a leading voice of classical liberalism, he taught at world-renowned institutions like the London School of Economics and the University of Chicago, leaving an indelible mark on political philosophy and free-market thought.

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