Better Money
Better Money
The recent rise of dollar, pound, and euro inflation rates has rekindled the debate over potential alternative monies, particularly gold and Bitcoin. Though Bitcoin has been much discussed in recent years, a basic understanding of how it and gold would work as monetary standards is rare. Accessibly written by a pioneering economist, Better Money explains and evaluates gold, fiat, and Bitcoin standards without hype. White uses simple supply-and-demand analysis to explain how these standards work, evaluating their relative merits and explaining their response to shocks, allowing for informed comparisons between them. This book addresses common misunderstandings of the gold standard and Bitcoin, using historical evidence to review the history of money with emphasis on the contest between market and government provision. Known for his work on alternative monetary institutions, White offers a reasoned discussion of which standard is most likely to provide a better money.
- Offers a sympathetic but critical explanation of how a gold, fiat and bitcoin standards work
- Identifies the valid and invalid claims made by each of its advocates
- Compares and contrasts the workings of a gold standard, a fiat standard, and a hypothetical Bitcoin standard enabling the reader to make an informed ranking of alternative monetary standards
Reviews & endorsements
‘… there can be no doubt that White succeeds in presenting the complexity of money and its purpose in a way that is both informative and friendly to the general reader. For that, ‘Better Money’ makes a worthwhile read.’ David Weinberger, The University Bookman
Product details
March 2023Paperback
9781009327459
185 pages
228 × 152 × 16 mm
0.41kg
Available
Table of Contents
- Introduction
- 1. Markets and governments in the history of money
- 2. How a gold standard works
- 3. Common misconceptions about the gold standard
- 4. How a fiat standard works
- 5. How Bitcoin standard works
- 6: Contrasts between gold and Bitcoin standards.
