For years economists had thought that prosperity was incompatible with a sound currency.
These things are well worth the price for the short- and long-term power of tax-rate reduction, sound currency and unclogged credit arteries.
As a young man, Mr Leutwiler had gained attention as the energetic secretary of a group called the Association for a Sound Currency.
The nations enjoying limited government, property rights, sound currency, free trade, ease of regulation, low taxes and restrained public spending include: Hong Kong, followed by Singapore, New Zealand, Switzerland, Australia, Canada, Chile, United Kingdom, Mauritius and the United States.
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During that time, a member of the capitalist class, Andrew Carnegie, argued the opposite: that, in fact, a sound currency was the friend of the common man, while a floating currency often gave speculators and financial sophisticates an unfair advantage.
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A. Hayek and Milton Friedman, both of whose lectures she attended, that her instincts about hard work, market competition, thrift and a sound currency were exactly the blast of oxygen Britain needed to save it from slow asphyxiation by the trade unions.
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When government is limited and the expenditures are on vital services, such as providing a legal system, local police forces, a sound currency, safe highways, the common defense and other services that secure our life, liberty and property, these expenditures increase the opportunity for voluntary exchanges in the private sector, and the economy grows.
Under a currency board, no local money is issued unless it is backed by a sound foreign currency, usually the dollar.
In to the sound of a crashing currency comes none other than his plodding predecessor, Viktor Chernomyrdin.
They question whether Mr Kabila imposed the currency measures for sound economic reasons or to allow members of his government to stuff dollars into their own pockets.
If a country on a sound financial footing wants to scrap its currency board for these reasons, it should be able to do so without difficulty.
Hong Kong and Singapore faced incipient currency runs although their economic fundamentals are sound and their economic data ample.
In order to stabilize its currency, the U.S. needs sound banking and also to keep its economic engine humming.
Alas, fiat currency has everything to do with power and nothing to do with sound economics.
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By making open market purchases, which should be routine, sound like such a big hairy deal printing money, debasing the currency, etc.
The Polish currency is likely to rise further due to Poland's relatively sound economy, the inflow of foreign funds, and the market continuing to expect more cuts to borrowing costs than the central bank is ready to deliver, said Nomura economist Peter Attard Montalto.
While many of the world's most opulent villas lure guests with an array of cool toys (and we do mean cool -- how does recording studio equipment once used by John Lennon sound?), others deal in what may be the most coveted holiday-home currency: privacy.
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