Hayek for the 21st Century: Essays in Political Economy brings together Friedrich Hayek’s most powerful essays on the knowledge problem, competition, socialism, and honest money—showing why his ideas are more relevant today than ever. From his devastating critiques of central planning to his insights on decentralized knowledge and market signals, Hayek dismantles the myths of state control with clarity and force. These essays offer essential tools for understanding liberty, spontaneous order, and the perils of political overreach.

Narrated by Bill Anciaux.

Chapter 7. Choice in Currency: A Way to Stop Inflation

The Mises Institute, founded in 1982, is an educational institution devoted to advancing Austrian economics, freedom, and peace in the classical-liberal tradition. Our website offers many thousands of free books and thousands of hours of audio and video, along with the full run of rare journals, biographies, and bibliographies of great economists.