This book emphasizes the role of money and banking in the promotion of economic order. It argues that an appreciation of the spontaneous evolutionary processes that produce and maintain monetary institutions should make skeptical of attempts to plan or regulate the production of money.
Table of Contents
0. Introduction 1. Problems with Formal Models of Monetary Exchange 2. Rules, Institutions, and the Evolution of Economic Order 3. Money as the Language of the Market Process 4. The Evolution of Monetary Order 5. Regulatory Chaos and Spontaneous Order Under the National Banking System 6. Conclusion: Money in a Nonrationalist Approach to Economic Systems