Seigniorage

Viac o knihe

Focusing on the revenues generated from currency creation, the book presents a comprehensive theory of seigniorage through an institutional lens. It categorizes economic history into three monetary regimes: commodity, fiat, and credit currencies. This analytical framework allows for an in-depth exploration of how different methods of currency issuance—such as minting coins, printing notes, and crediting private entities—impact revenue generation and their optimal levels.