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The Healthy Currency – An Alternative To Stable Currency

Author

Listed:
  • Mihaela IAVORSCHI

    () (Alexandru Ioan Cuza University of Iasi, Romania)

  • Andreea GRADINARU

    () (Alexandru Ioan Cuza University of Iasi, Romania)

Abstract

In the current historical and economic context of the globalised world, sensitive to fluctuations and liable to economic crisis, we find it especially important to analyse the concept of monetary stability. The purpose of this paper is to critically analyse the concept of monetary stability, from the merchandise-currency point of view as well as regarding the fiduciary currency. Through the contributions of the Austrian economists, that underlined the mutations that occur after the inflationary processes in the allocation of resources, revenue distribution and in the evolution of entrepreneurial activities, we understand the necessity to use a healthy currency. The conclusions of the study reflect the undisputed virtues of the gold standard whose stabilizing mechanisms can only function on a free market, guaranteed by economic freedom and without the state’s intervention.

Suggested Citation

  • Mihaela IAVORSCHI & Andreea GRADINARU, 2014. "The Healthy Currency – An Alternative To Stable Currency," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 6(3), pages 43-52, September.
  • Handle: RePEc:jes:wpaper:y:2014:v:6:i:3:p:43-52
    as

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    File URL: http://ceswp.uaic.ro/articles/CESWP2014_VI3_IAV.pdf
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    References listed on IDEAS

    as
    1. Horwitz, Steven, 2011. "Do we need a distinct monetary constitution?," Journal of Economic Behavior & Organization, Elsevier, vol. 80(2), pages 331-338.
    2. Brunner, Karl & Meltzer, Allan H, 1971. "The Uses of Money: Money in the Theory of an Exchange Economy," American Economic Review, American Economic Association, vol. 61(5), pages 784-805, December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    monetary stability; free market; gold standard; stable currency;

    JEL classification:

    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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