Aspects of the Pathology of Money

Professor Michael A. Heilperin was an outstanding monetary theorist before and after the Second World War who explained the inflation dangers associated with monetary nationalism, and who called for a new international monetary system based on gold: not a gold-exchange standard but a genuine gold standard.

Even while the Keynesians and monetarists were predicting nirvana from paper money, the Austrians saw the looming disaster.

These are four of Heilperin's best critical essays, which appeared between the early 1930s and the mid-1960s. They provide an excellent overview of his thought. This book, out of print since 1968 but now available in a convenient ebook format, provides an outstanding presentation of the Austrian perspective.