Denis Fahey - Monetary Reform

Monetary Reform

In his 1944 book Money, Manipulation and Social Order, Fahey turned towards the subject of economic reform. In this book he attacked gold standard economies, which he felt were debt-driven. Drawing on the ideas of Frederick Soddy, with whom he was in regular correspondence, Fahey wanted banks to be forced to balance all loans with holding of currency. Although he was not directly linked to such contemporary movements as Social Credit or Guild socialism, Fahey certainly shared elements of their economic ideas. He had previously written in support of the views of An Ríoghacht - which advocated an Irish monetary system completely independent of the United Kingdom - in an article for the journal Hibernia in 1938.

Read more about this topic:  Denis Fahey

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