A Laissez-Faire Approach to Monetary Stability
综合Fischer Black、Eugene Fama和Robert E. Hall的零散观点，提出一种名为BFH系统的自由放任支付体系，通过对比揭示现有货币体系的特征。
THIS PAPER DEVELOPS some diverse hints for a new monetary offered separately by Fischer Black, Eugene Fama, and Robert E. Hall. (For reasons that will become evident, though, we should perhaps say payments system instead of monetary system.) None of the economists mentioned has actually proposed the particular set forth here nor examined all its properties, and we call it the BFH system not to implicate them but only to give credit for some component ideas and to have a convenient label.l Regardless of who if anyone may actually advocate the system, contemplating it is instructive. It illuminates, by contrast, some characteristics of our existing and recent systems.