  The key characteristic of a true free market economy is that exchanges are
entirely voluntary. When there is a monopoly in the creation of currency as we
have in today's markets, you no longer have a true free market. Features of the
current economic system such as central banking and taxation would be
nonexistent in a free market. This paper examines how currency monopoly leads
to the instabilities and imbalances that we see in today's economy. It also
proposes that currencies should emerge from the voluntary exchange of goods and
services, and studies economic interaction across all scales, by considering
economic action in cases where the self-interests of individuals are
coincident. By examining the voluntary exchange of goods and services at the
scale of an entire society, it is shown that a new currency system, which
resolves a lot of the problems caused by the current fiat currency system,
emerges naturally from the free market. The new currency system is robust and
efficient, and provides a way for public goods and services to be provided, and
its providers compensated, without the need for direct taxation.
