Buch(gedruckt)#12024
La escuela austriaca de Madrid: de Viena a Madrid
In: Nueva biblioteca de la libertad 67
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In: Nueva biblioteca de la libertad 67
In: Economic affairs: journal of the Institute of Economic Affairs, Band 43, Heft 2, S. 211-228
ISSN: 1468-0270
AbstractThis article covers the consequences of the Bolsheviks' coup d'état in 1917 for the Soviet monetary system. I argue that the episode illustrates Gresham's Law, as three different currencies made an appearance in the Russian economy. This monetary disorder is scarcely mentioned by Marxist authors. It was a failure that would be mitigated by the subsequent New Economic Policy, an amendment to the Bolshevist War Communism programme of nationalisation and intervention in the economy.