In this highly praised book from 1997, George Selgin argues that monetary policy should not have the goal of price stability, but should aim to allow prices to move in-line with movements in productivity (the so-called ‘productivity norm’). Radical and contrarian, this hugely original book is a mini-classic.

1997, Hobart Papers 132, ISBN 978 0 255 36402 7, 82pp, PB

See also:

Good Money by George Selgin

How Markets Work: Disequilibrium, Entrepreneurship and Discovery by Israel M. Kirzner

The Austrian School by Jesus Huerta de Soto.