Central Banks as Sources of Financial Instability
May 09, 2010 at 21:15 PM EDT
George Selgin has written an interesting piece here, explaining why the institution of central banking is inherently destabilizing (relative to an institution of free-banking). I have a lot of sympathy for what he has to say here, although I do have some reservations. (Thanks to Prof J for sending this to me). Selgin begins by describing [...]