Concorrência monetária

Private Currency Competition Is The Monetary Answer

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By Wendy Milling

A private $1 note, issued by the "Delaware Bridge Company" of New Jersey 1836-1841. (Photo credit: Wikipedia)

The push for monetary reform is on, and intellectuals seeking to reform the monetary system in accordance with free market principles are seriously debating two alternative solutions. One is a return to the gold standard in some fashion. The other is a free market in currency, i.e., private currency competition. Toward the latter end, Rep. Ron Paul has sponsored a bill repealing legal tender law.
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