The article considers the main aspects of the theory of F.A. von Hayek. The effectiveness of competition has been proved as a way to select the best currencies, which are characterized by high liquidity, transparent emission, and active work in the information space. And also in this article, the power of the influence of the press factor on the theory of Private Money by F. A. von Hayek is considered. The effectiveness of this factor, which acts as a filter of a low-quality product, allowing market participants to filter out unreliable currencies, has been proved.
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Hunan Univ, Business Sch, 11 Lushan South Rd, Changsha 410082, Hunan, Peoples R ChinaHunan Univ, Business Sch, 11 Lushan South Rd, Changsha 410082, Hunan, Peoples R China
Yi, Shuyue
Xu, Zishuang
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Hunan Univ, Business Sch, 11 Lushan South Rd, Changsha 410082, Hunan, Peoples R ChinaHunan Univ, Business Sch, 11 Lushan South Rd, Changsha 410082, Hunan, Peoples R China
Xu, Zishuang
Wang, Gang-Jin
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Hunan Univ, Business Sch, 11 Lushan South Rd, Changsha 410082, Hunan, Peoples R China
Hunan Univ, Ctr Finance & Investment Management, Changsha 410082, Hunan, Peoples R ChinaHunan Univ, Business Sch, 11 Lushan South Rd, Changsha 410082, Hunan, Peoples R China
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Georgia Inst Technol, Atlanta, GA 30332 USA
Univ East Anglia, Norwich NR4 7TJ, Norfolk, England
Ctr European Econ Res, D-68161 Mannheim, GermanyGeorgia Inst Technol, Atlanta, GA 30332 USA
Kummer, Michael
Schulte, Patrick
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Ctr European Econ Res, D-68161 Mannheim, Germany
Deutsch Bundesbank, D-60431 Frankfurt, GermanyGeorgia Inst Technol, Atlanta, GA 30332 USA