Network Effects and Money


The common basis for this work is that it deals with money as a network good, i.e. that the value of a specific currency or payment technique is dependent on the number of users. This book analyzes monetary choice in the light of this network aspect from different perspectives. The so-called network effects, which may result from a network good, can work as reinforcement or as an obstacle to spontaneously or politically controlled changes in the monetary regime. As a result problems associated with the adoption of a new currency or new (electronic) payment techniques may arise.

The book includes both theoretical discussions as well as a discussion about Carl Menger´s monetary theory and its connection to the network effects of money. The last chapter of the book analyzes a specific case, namely the Euro cash changeover process that took place in 2002.

This work should be useful for people with a general interest in choice of monetary standards, but also for people who specifically want to read about the Euro Cash changeover process or Carl Menger’s monetary theory.

Interdisciplinary European Studies

The European Union and the Return of the Nation State


This book explores the complex and ever-changing relationship between the European Union and its member states. The recent surge in tension in this relationship has been prompted by the actions of some member state governments as they question fundamental EU values and principles and refuse to implement common decisions seemingly on the basis of narrowly defined national interests.

About the book


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