lydian, stater, electrum, white, selgin, coinage, origins of money

I fully expected Larry White's recent post challenging the state theory of money, and particularly that theory's understanding of the origins of metallic coinage, to generate some critical feedback. In particular, I expected it to raise the hackles of "Lord Keynes" (henceforth LK), the otherwise anonymous author…

lender of last resort, bank runs, panics, monetary primer

So far, throughout this primer, I've claimed that central banks have one overarching task to perform:  their job, I said, is to "regulate the overall availability of liquid assets, and through it the general course of spending, prices, and employment, in the economies they oversee." I've also…