The Breakdown
The Breakdown
Aug 6, 2020
The History, Present, and Future of Central Banks, Feat. George Selgin
Play • 1 hr 19 min

Today on the Brief:

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

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 that central banks aren’t a prerequisite for stability
  • Why the USA’s “free banking” system wasn’t free at all
  • Why the instability in the late 19th century US banking system was caused by regulation, not the lack of a Fed
  • 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 but didn’t learn between the Great Financial Crisis and COVID-19 

Find our guest online

Website: Alt-M.org

Twitter: @GeorgeSelgin

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