Througout his life Hayek had a profound interest in money and its role within the economy. Money plays a critical part in his 1920s work on the trade cycle, which attempts to integrate capital theory and monetary theory. As late as the 1970s, Hayek was advocating radical reform of the monetary system, suggesting that the supply of money be turned over to private
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The more enslaved laborers one owned, the more money it cost to maintain them and to extract product from their work. As planters and cotton growers expanded their lands and purchased more enslaved laborers, their expectations increased.
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The masterpiece first appeared in german in 1940 and then disappeared, only to reappear in english in 1949. It was a sensation, the largest and most scientific defense of human freedom ever published. As is well known, mises's book is the best defense of capitalism ever written.
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