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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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About George Selgin
George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute and Professor Emeritus of Economics at the University of Georgia. His research covers a broad range of topics within the field of monetary economics, including monetary history, macroeconomic theory, and the history of monetary thought. He is the author of The Theory of Free Banking (Rowman & Littlefield, 1988), Bank Deregulation and Monetary Order (Routledge, 1996), Less Than Zero: The Case for a Falling Price Level in a Growing Economy (The Institute of Economic Affairs, 1997), and, most recently, Good Money: Birmingham Button Makers, the Royal Mint, and the Beginnings of Modern Coinage (University of Michigan Press, 2008). Selgin is one of the founders, along with Kevin Dowd and Lawrence H. White, of the Modern Free Banking School, which draws its inspiration from the writings of Friedrich Hayek on denationalization of money and choice in currency. Selgin has written for numerous scholarly journals, including the British Numismatic Journal, The Economic Journal, the Economic History Review, the Journal of Economic Literature, and the Journal of Money, Credit, and Banking, and for popular outlets such as The Christian Science Monitor, The Financial Times, and The Wall Street Journal, among others. Selgin retired from the University of Georgia to join Cato in September 2014. He has also taught at George Mason University, the University of Hong Kong, and West Virginia University. He holds a B.A. in economics and zoology from Drew University, and a Ph.D. in economics from New York University.
Banking Regulation, Economic History, Economic Thought, Money & Politics, News

The New Deal and Recovery, Part 23: The Great Rapprochement

George Selgin/February 7, 2023February 8, 2023

What finally brought the Great Depression to an end? We've seen that, whatever it was, it took place not during the 30s but sometime between then and the end of World War II, when a remarkable postwar revival occurred instead of the renewed depression many feared. We've…

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Economic History, Inflation & Deflation, Money & Politics, News, The Fed & Central Banks

The New Deal and Recovery, Part 22: Postwar Monetary Policy

George Selgin/December 19, 2022December 31, 2022

After an interruption due mostly to my move to Spain, I'm pleased to be back in the saddle again, wrapping up my series on the New Deal. I ended a previous installment of this series by observing that, despite many dire forecasts, the U.S. economy avoided a…

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Banking Regulation, Booms & Busts, Economic History, Money & Politics, News

Diamond and Dybvig and the Panic of 1907

George Selgin/December 6, 2022December 6, 2022

My last post argued that, despite what Diamond and Dybvig's famous theory suggests, bank runs have seldom proven fatal to otherwise sound banks. Instead, when people run on a bank, it's usually because it's already in hot water. In response to that post, a Twitter correspondent wondered…

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Booms & Busts, Economic History, Inflation & Deflation, Money & Politics, News

The New Deal and Recovery, Part 21: Happy Days

George Selgin/August 31, 2022February 7, 2023

By the start of 1948, there could no longer be any doubt: the Great Depression wasn't coming back. Instead of collapsing at war's end, as many feared it would, combined government and private spending (as measured by nominal Gross Domestic Product) hardly budged between 1945 and 1946,…

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Economic History, Money & Politics, News

The New Deal and Recovery, Part 20, Coda: The Fate of Rosie the Riveter

George Selgin/August 11, 2022February 7, 2023

In assessing the possibility that a severe downturn occurred at the end of WWII, I took issue with conventional wartime and postwar output statistics, while taking the period's unemployment statistics at face value. In so doing I set aside a hypothesis that disputes the unemployment numbers themselves….

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Recent Posts

  • The New Deal and Recovery, Part 23: The Great Rapprochement
  • The New Deal and Recovery, Part 22: Postwar Monetary Policy
  • Diamond and Dybvig and the Panic of 1907
  • Diamond, Dybvig, and Government Deposit Insurance
  • Bank and Crypto Runs: F(ac)TX vs Fiction
  • The New Deal and Recovery, Part 21: Happy Days
  • Stop Lionizing Paul Volcker and Villainizing Arthur Burns

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Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

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