Correspondent Jason, who reads this blog, writes to ask about Austrian opinion on the issue of local currency. “The websites here and here contain detailed analyses and agendas towards ending the government’s monopoly over printed money, and instead argue for local or regional money backed directly by goods and labor.”
My first thought was that it looks like a cranky confusion over what money is and does, or perhaps it is an attempted step toward a form of voluntaristic socialist experimentation. On the other hand, taking it more seriously, perhaps Rothbard’s critique of Hayek’s monetary denationalization proposal applies here: The Case for a Genuine Gold Dollar. In any case, Jason is interested in your thoughts, which can be posted here.
