Politicians had some sympathy with that view in the 1930s, when Hayek's arguments often did get a better hearing than Keynes'.

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When Hayek, the famous Austrian school economist, published The Constitution of Liberty in 1960, he was not focused on reforming communications law and policy.

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But the idea dates back to the early 1970s, when economist Friedrich Hayek first proposed the denationalisation of currencies.

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Friedrich Hayek had to flee when the London School of Economics was moved to Cambridge during World War II (his friend and intellectual rival John Maynard Keynes apparently helped him find accommodations).

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For Hayek and the Austrians, things go wrong when a central bank sets short-term interest rates too low and allows credit to expand artificially.

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When it comes to the 1930s, history has not looked kindly on Hayek's arguments.

BBC: Masters of Money: Friedrich Hayek

But when it comes to the powerful forces of the status quo, her inner Hayek falls silent.

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