<DIV>Produced throughout the first fifteen years of Hayek’s career, the writings collected in <I>Capital and Interest</I> see Hayek elaborate upon and extend his landmark lectures that were published as <I>Prices and Production</I> and work toward the technically sophisticated line of thought seen in his later...</i></i></i></div>

<DIV>Produced throughout the first fifteen years of Hayek’s career, the writings collected in <I>Capital and Interest</I> see Hayek elaborate upon and extend his landmark lectures that were published as <I>Prices and Production</I> and work toward the technically sophisticated line of thought seen in his later...</i></i></i></div>

The question of free banking – or laissez-faire in money – raises fundamental theoretical, historical and normative issues. Discussions of free banking contemplate the consequences of abolishing government central banks, and allowing unrestricted money issue by private banks.