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THE WALL STREET JOURNAL, FRIDAY, AUG. 19, 1977
""~l ~Toward Free Market Money
By. FRIEDRICH A. HAYEK
I have always defended the gold stan·
dard, and later fixed exchange rates. not
because I thought they resulted in particu·
, larly good money but because they pro·
{ vided the only effective protection from
government abuse of its monopoly to issue
money. ·
But now. when this discipline has bro·
ken down, I see nci hope of its being ever
restored.
Therefore,...