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It’s possible that I shall make an ass of myself. But in that case one can always get out of it with a little dialectic. I have, of course, so worded my proposition as to be right either way (K.Marx, Letter to F.Engels on the Indian Mutiny)

Monday, August 10, 2020

The History, Present and Future of Central Banks, Feat. George Selgin

YOUR GUIDE TO THE AMERICAN RIGHT WING LIBERTARIAN ECONOMIC PHANTASY
Aug 6, 2020


(MDart10/Shutterstock)


Nathaniel Whittemore



The Director of the Cato Institute’s Center for Monetary and Financial Alternatives gives an eye-opening, 200-year history of today’s most powerful economic institution.

This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.

Today on the Brief:

Better news in the jobless claims this week
A new bitcoin adoption cycle?
Checking on Lebanon

See also: Hedgeye CEO Keith McCullough on Stagflation, Bitcoin and the Devalued Dollar

Our main conversation is with Dr. George Selgin.


Dr. Selgin is a Senior Fellow and director of the Cato Institute’s Center for Monetary and Financial Alternatives as well as Professor Emeritus of Economics at the University of Georgia.


In this eye-opening conversation, he and NLW go deep on the history, present and future of central banks, including:

Why the Scottish and Canadian banking systems in the 19th century show that central banks aren’t a prerequisite for stability


Why the U.S. “free banking” system wasn’t free at all


Why the instability in the late 19th century U.S. banking system was caused by regulation, not the lack of a Federal Reserve


Why the Fed’s first decades were a disaster


Why the Fed gets more power when it underperforms 


The problems with the Fed’s response to 2008


What lessons the Fed could have learned (but didn’t) between the Great Financial Crisis and COVID-19


Find our guest online:
Website: Alt-M.org
Twitter: @GeorgeSelgin

For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.

EUGENE PLAWIUK at 1:36 PM
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