Imagine a world in which: you make all of your purchases without ever handling currency - bills or coins - or even writing checks; most money is issued privately and digitally, rather than by governments; inflation is largely a relic of the past; you choose which transactions you wish to be on record and which you wish to be anonymous. This world is not science fiction, but the world that increasing numbers of people will come to enjoy over the next couple of decades, according to the new book, The end of Money, by Discovery Institute Senior Fellow Richard W. Rahn.
Technology has fast outpaced governments' ability to maintain control of electronic finance. Advances in fiberoptics, encryption, and smart-card technologies make it ever easier to transfer funds from one person to another anywhere around the globe almost instantaneously, and without the use of paper and coins. Global financial networks and systems allow any asset whose value is recognized and guaranteed by a reliable financial institution to be instantly transferred from one person to another.
Private institutions are already developing "digital dollars" that will someday reduce transaction costs and monetary instability, thus leading to grater economic efficiency and higher standards of living. Unfortunately, this new world f digital money is fiercely resisted by many government officials. The full benefits of digital money will not be realized unless people are left free to move their financial assets around the globe in a private fashion.
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Richard W. Rahn, Senior Fellow of the Seattle-based Discovery Institute, is founder of the Novecon companies whose products range from advanced semiconductor substrates and devices to international financial services.
He received his Ph.D. from Columbia University in 1972, taught in several graduate schools and served as head of the graduate Department of Management of the Polytechnic University of New York. During the 1980s, he was Vice President and Chief Economist of the US Chamber of Commerce, helping to shape important tax reforms of that decade. He served as an economic advisor to US and foreign government officials and coordinated several economic transition teams in Eastern Europe.
Dr. Rahn is a frequent commentator on economic issues in the news media and has testified before the US Congress on tax and economic policy issues more than seventy-five times.
He works in Washington, D.C. and lives in Northern Virginia. In addition to his business role and Discovery Institute position, he serves as an adjunct scholar of Cato Institute and an adjunct fellow of Hudson Institute.Review:
"Richard Rahn is that rare, rare bird, an economist who can explain arcane matters in easy-to-understand language. Get the latest dope, in plain language, on the world banking and currency crisis, the techniques and importance of "foreign" bank accounts, and how modern technology may spell the ultimate demise to intrusive and totalitarian governments." -- Henry G. Manne, founder of the Law and Economics Center, and former Dean of George Mason University Law School
"Richard Rahn persuasively argues how the coming digital money revolution will make lower tax rates and radical tax simplification inevitable." -- Jack Kemp, Co-Founder of Empower America
"The End of Money is a call to arms to defend individual liberty. Than demonstrates how inextricably linked financial privacy is to our fundamental freedoms, and why we must fight for it." -- Mack F. Mattingly, former US Senator and Ambassador
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Book Description Discovery Inst, 1999. Hardcover. Book Condition: New. Dust Jacket Condition: New. 1st Edition. Technology has made it possible to transfer money around the world without use of coins or paper. This book looks at the new technology, and makes a case for financial privacy and protection from government interference in this new monetary order. 223 pages, bibliography, index. Published @ $25.00. Bookseller Inventory # 13612
Book Description Discovery Institute, 1999. Hardcover. Book Condition: New. book. Bookseller Inventory # M0963865420
Book Description Discovery Institute, 1999. Hardcover. Book Condition: New. Never used!. Bookseller Inventory # P110963865420
Book Description Discovery Institute. Hardcover. Book Condition: New. 0963865420 New Condition *** Right Off the Shelf | Ships within 2 Business Days ~~~ Customer Service Is Our Top Priority! - Thank you for LOOKING :-). Bookseller Inventory # 2BOOK2P159949