Good Money tells the interesting tale of British brands' problem to the Crown's monopoly on coinage. within the 1780s, while the commercial Revolution used to be accumulating momentum, the Royal Mint didn't produce adequate small-denomination coinage for manufacturing facility proprietors to pay their employees. because the foreign money scarcity threatened to derail business development, brands started to mint personalized cash, known as "tradesman's tokens." swiftly gaining extensive recognition, those tokens served because the nation's hottest forex for wages and retail revenues until eventually 1821, whilst the Crown outlawed all moneys other than its own.
Economist George Selgin provides a full of life story of enterprising brands, technological options, substitute currencies, and struggles over the correct to coin criminal money.
George Selgin is Professor of Economics within the Terry collage of industrial on the collage of Georgia and study Fellow on the self reliant Institute in Oakland, California (www.independent.org).