Professor Heilperin was the outstanding monetary theorist before and after the Second World War who explained the inflation dangers associated with monetary nationalism, and called for a new international monetary system based on gold: not a gold exchange standard but a genuine gold standard.
Even while the Keynesians and monetarists were predicting nirvana flowing from paper money, the Austrians saw the looming disaster.
These are his critical essays that appeared between the early 1930s and the mid 1960s, and provide an excellent overview of his thought. This book, out of print since 1968, provides an outstanding presentation of the Austrian perspective.
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Michael Heilperin was born in 1909 in Warsaw, Poland. He was a friend and colleague of Ludwig von Mises’s in Geneva, and his specialization was the international monetary system. He applied the Austrian theory of the business cycle along with his knowledge of the balance of payments to warn against the rise of monetary nationalism. See his literature archive.
Mises Institute, 2007
