Author George Selgin writes:
Just a quick note to let you know that Good Money was recently published in a paperback edition, with a new preface. The paperback is otherwise identical to the hardcover, including the color plate insert. It's available from the Independent Institute for $22.10. Here's the store link:
The subtitle of George's book says it all: Private Enterprise and Popular Coinage: Birmingham Button Makers, the Royal Mint, and the Beginnings of Modern Coinage, 1775-1821.
Dick Doty endorsed it as follows: It is simply a marvelous read. I'd recommend it to anyone!". Below is the description from the paperback web site.
In Good Money, George Selgin tells the fascinating story of the important yet almost unknown episode in the history of money—British manufacturers’ challenge to the Crown’s monopoly on coinage.
In the 1780s, when the Industrial Revolution was gathering momentum, the Royal Mint failed to produce enough small-denomination coinage for factory owners to pay their workers. As the currency shortage threatened to derail industrial progress, manufacturers began to mint custom-made coins, called “tradesman’s tokens.” Rapidly gaining wide acceptance, these tokens served as the nation’s most popular currency for wages and retail sales until 1821, when the Crown outlawed all moneys except its own.
Good Money not only examines the crucial role of private coinage in fueling Great Britain’s Industrial Revolution, but it also challenges beliefs upon which all modern government-currency monopolies rest. It thereby sheds light on contemporary private-sector alternatives to government-issued money, such as digital monies, cash cards, electronic funds transfer, and (outside of the United States) spontaneous “dollarization.”
To read the earlier E-Sylum articles, see:
NEW BOOK: 'GOOD MONEY' BY GEORGE SELGIN
REVIEWS: GOOD MONEY BY GEORGE SELGIN
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