This book is unique in providing the first full English translation of Menger's seminal article Geld - one of the most influential papers on the origin of money. The editors aim to facilitate a broader and more detailed discussion of Menger's method, theory and findings with this translation and in depth analysis. Menger's institutional approach is applied and extended to the analysis of the evolution of payments systems, focusing in particular on electronic money, on its institutional character, and on monetary policy as well as predictions of likely future developments. Carl Menger and the Evolution of Payments Systems will be of great interest to financial ecomists and Austrian ecomists as well as historians of ecomic thought.
Edited by Michael Latzer, University of Zurich, Switzerland and Stefan W. Schmitz, Economist, Oesterreichische Nationalbank, Vienna, Austria