Monopoly in Money and Inflation. The Case for a Constitution to Discipline Government.. This item is unavailable.Monopoly in Money and Inflation. The Case for a Constitution to Discipline Government.

First edition. 8vo. 68 pp., with the publisher's prospectus loosely inserted at rear. Original printed wrappers (spine faded, otherwise an excellent copy). London, The Institute of Economic Affairs, Hobart Paper 88. 'Buchanan and H. Geoffrey Brennan?s Monopoly in Money and Inflation discusses Leviathan?s tendency to use inflation, which devalues existing money and public debt, to maximise its revenues from the monopoly power of money creation. They propose responding with any of several possible constitutional amendments, such as mandating a particularly rate of monetary growth, eliminating the government?s monopoly over money issuance, or even eliminating its power to issue and regulate money' (Shaviro, Do Deficits Matters?, p. 92).