Money: Free and Unfree

Why has the United States experienced so many crippling
financial crises? The popular answer: U.S. Banks have long been
poorly regulated, subjecting the economy to the whims of selfish
interest, which must be tempered by more government regulation and
centralization. In a new Cato Institute book, Money: Free and
, George Selgin turns this conventional wisdom on
its head. In essays covering U.S. monetary policy since before the
Civil War, he painstakingly traces financial disorder to its
origin: misguided government regulation, dispelling the myth of the
Federal Reserve as a bulwark of stability.

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