Competition, Coordination and Diversity

Competition, Coordination and Diversity

From the Firm to Economic Integration

New Thinking in Political Economy series

Pascal Salin

Competition, or the freedom to enter into a market, contributes greatly to the differentiation of human activities and therefore to economic progress. This fascinating book highlights the similarities between human systems at both the micro and macro level, and demonstrates how competition can positively affect the economic workings of firms and countries.

Chapter 14: The future of monetary policies in an online world

Pascal Salin

Subjects: economics and finance, austrian economics


The development of e-business in our time has certainly had a deep influence on productive structures. But the increasing role of the internet in trade also could have important consequences in the working of monetary systems. These influences are not yet very visible, although there are already several e-currencies in the world. But they still have a limited role. However, even if one cannot know the specific details of future e-currencies, one may try to determine their main lines. To perform such a task, one must obviously refer to the general theory of money and monetary systems. In fact, one has to take into consideration services offered by money and to try to evaluate how the internet may change the way in which monetary needs are met.

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