Just got done reading Hayekβs Good Money series. Very impressed with his foresight from over a century ago.
According to Hayek, a good money will contain the properties:
1. Decentralization of Money Creation
2. Predictable monetary policy
3. Non-Inflationary Growth
4. Competition in Currency
5. Sound Money
6. Limiting Government's Role
7. The Role of Gold Standard
8. Integration of Monetary and Capital Theory