Money-socialism

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A small group of economists, primarily from the “Austrian School of Economics,” predicted the global financial crisis, notably represented by Nobel laureate Friedrich A. von Hayek. In 1976, Hayek advocated for abandoning state monopolistic paper money, suggesting that civilization's survival might hinge on this change. Roland Baader, an MSc in Economics and a student of Hayek, is a leading figure of the Austrian School in Germany and accurately forecasted the financial crisis that began in 2007. His 2005 book, subtitled “On the eve of the next world economic crisis,” highlighted the impending turmoil. Unlike prevailing inflationist (Keynesian) theories dominating economics education and media, Austrian economists have identified the true causes of the current world depression. Their sound diagnoses lead to effective solutions for the impending impoverishment facing industrialized nations. We are on the brink of an unprecedented global depression, and a rapid shift to a stable private currency is essential for avoiding disaster. Baader provides a clear analysis of the depression's causes and potential solutions, making complex ideas accessible. This work, his sixteenth, serves as a critical and urgent call to action from a prominent German libertarian thinker.