The book is the best introduction to money problems. The author shows that money arises through voluntary exchanges on the market, no social contracts or government edicts create money, and that the free market must be extended to the production and distribution of money. Beginning with an examination of the classical gold standard of the 19th century, the author concludes his study with an analysis of the likely emergence of a European currency and the possible world of fiat money. In the afterword, G. Hülsman continues the analysis from where Rothbard left off and brings it to the present day, to the emergence of the euro. In his opinion, sooner or later the monetary system of a united Europe being built today will collapse.

Murray Rothbard. State and money. Publishing house "Socium". Chelyabinsk. 2008.3rd edition.