Sound Money

An Austrian economics philosophy that an idealized currency should be backed by a finite unchanging supply and fixed supply of a commodity, or more recently a cryptoasset.

Sound money is an antiquated ideology that, along with the gold standard, is rejected in modern economic thought.

See gold standard and libertarianism.


  1. Doctorow, Cory. 2022. ‘Money Is Power’. 3 February 2022.
  2. Sanz Bas, David. 2020. ‘Hayek and the Cryptocurrency Revolution’. Iberian Journal of the History of Economic Thought 7 (1): 15–28.
  3. Allon, Fiona. 2018. ‘Money after Blockchain: Gold, Decentralised Politics and the New Libertarianism’. Australian Feminist Studies 33 (96): 223–43.
  4. Inwood, Olivia, and Michele Zappavigna. 2021. ‘Ideology, Attitudinal Positioning, and the Blockchain: A Social Semiotic Approach to Understanding the Values Construed in the Whitepapers of Blockchain Start-Ups’. Social Semiotics, 1–19.
  5. Wolf, Martin. 2019. ‘The Libertarian Fantasies of Cryptocurrencies’. Financial Times, February.
  6. Fantacci, Luca. 2019. ‘Cryptocurrencies and the Denationalization of Money’. International Journal of Political Economy 48 (2): 105–26.
  7. Bernanke, Ben S. 2004. Essays on the Great Depression. Princeton University Press.
  8. Caferra, Rocco, Gabriele Tedeschi, and Andrea Morone. 2021. ‘Bitcoin: Bubble That Bursts or Gold That Glitters?’ Economics Letters 205: 109942.
  9. Selmi, Refk, Jamal Bouoiyour, and Mark E. Wohar. 2022. ‘“Digital Gold” and Geopolitics’. Research in International Business and Finance 59: 101512.