WHEN THERE IS A MONOPOLY ON CURRENCY, THE ENTIRE ECONOMY IS IN ONE HAND 🏛️

Friedrich Hayek, Austrian economist and philosopher, warned about the danger of state monopoly on currency. According to Hayek, when the State controls the issuance of money, it acquires excessive power to manipulate the economy. This centralization of monetary power can lead to inflation, economic destabilization, and reduced individual freedom, as the government can directly influence the value of goods and services. His work highlights the importance of monetary competition to limit the influence of the State and promote freer and more stable markets.