Baku, Azerbaijan, May 30
A well-known economist scholar, a Laureate of the Nobel Memorial Prize in Economic Sciences Friedrich A.Hayek’s book “Counter-nationalization of Money: Precise Argument: Analysis of the Theory of Parallel Currencies and Practice” has been translated in Azerbaijani at UNEC.
A Scientific editor of the translation is UNEC Rector, Professor Adalat Muradov. The book was translated from English by the Director of International School of Economics, PhD in Economics Anar Rzayev.
Analytical information about the essence of the money and control over it, results of deep research and considerations were noted in the book. In his book, drawing to attention that the government monopolizes over the money supply, Professor F.A.Hayek highlights that freedom of money emission should definitely be established and it should be provided through the competition between private issuers like other commodities. Based on the studies conducted, Professor Hayek denoted as a result, cancellation of money monopoly by the government is an effective tool to prevent inflation and following the globe over the last 60 years and the deflation attacks. This tool is an effective solution against depression presented as gross negligence of capitalism and waves of unemployment.
The source of government benefits of monetary circulation, free trade of money, “Gresham” law, parallel currencies, public finance, competition currency and demand, release banking activities and other important directions were widely analyzed in the book.
The book rich of valuable ideas proven by scientific research was translated on the basis of the agreement signed on June 7, 2016 between UNEC and the Institute of Economic Affairs of Great Britain.
UNEC is the brand of Azerbaijan State University of Economics. The brand of UNEC has been registered and patented by the State Committee on Standardization, Metrology and Patent on January 21 2016.