A01=George Selgin
Adverse Clearings
Author_George Selgin
Ayr Bank
Bank Money
Bank Suspensions
banking
Base Money
Category=KCBM
Category=KFFK
central
central bank critique
Checkable Deposits
Commodity Money
Competitive Note Issue
deposit
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
Excess Supply
Federal Reserve
Federal Reserve System
financial regulation impact
fractional
Fractional Reserve Banking
Fractional Reserve Banking System
free
Free Banking
Free Banking System
free banking theory
High Powered Money
Individual Bank Failures
insurance
lender of last resort
market-based monetary systems
monetary equilibrium
Monetary Laissez Faire
money
Nominal Money Stock
Precautionary Reserves
Price Level Policy
Price Level Stabilization
price-level stability
Productivity Norm
reserve
Reserve Demand
Statutory Reserve Requirements
system
systems
Product details
- ISBN 9780415140560
- Weight: 453g
- Dimensions: 156 x 234mm
- Publication Date: 07 Nov 1996
- Publisher: Taylor & Francis Ltd
- Publication City/Country: GB
- Product Form: Hardback
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Can the 'invisible hand' handle money? George Selgin challenges the view that government regulation creates monetary order and stability, and instead shows it to be the main source of monetary crisis.
The volume is divided into three sections:
* Part I refutes conventional wisdom holding that any monetary system lacking government regulation is 'inherently unstable', and looks at the workings of market forces in an otherwise unregulated banking system.
* Part II draws on both theory and historical experience to show how various kinds of government interference undermine the inherent efficiency, safety, and stability of a free monetary system.
* Part III completes the argument by addressing the popular misconception that a monetary system is unsound unless it delivers a stable output price-level.
George Selgin is Associate Professor of Economics at the University of Georgia
