Brown, Pamela. “Constitution or Competition? Alternative Views on Monetary Reform.” Literature of Liberty 5 (Autumn 1982): 7–52
Money, for practically as long as it has existed, has been employed to realize two fundamentally different sorts of goals: production or plunder. In a market economy, private individuals routinely use monetary institutions in a cooperative way to achieve voluntary exchanges of goods and services. Political authorities, by contrast, use monetary institutions in a non-cooperative way to achieve involuntary transfers of wealth.