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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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George Selgin
About George Selgin
George Selgin is a senior fellow and director 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.
Walter Grinder, economics, Institute for Humane Studies
Economic Thought, Free Banking, News

Friday Flashback: Walter Grinder Tributes

George Selgin/October 12, 2018October 12, 2018 /Leave a comment

(Today we celebrate the great Walter Grinder’s 80th birthday by reposting our tribute to him on his 75th.) Walter E. Grinder turns 75 years old today [80 now!].  He is the former CEO of the Institute for Humane Studies and President Emeritus of the Institute for Civil…

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free banking, Scottish free banking, banking regulation, Bank of England
Banking Regulation, Economic History, Free Banking

Scottish Banks and the Bank Restriction, 1797-1821, Part 1

George Selgin/October 9, 2018November 14, 2018 /4 Comments

From the beginning, there is one embarrassing and evident fact that Professor White has to cope with: that "free" Scottish banks suspended specie payment when England did, in 1797, and, like England, maintained that suspension until 1821. Free banks are not supposed to be able to, or…

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Financial Markets, News, The Fed & Central Banks

The Narrow Bank: A Follow-Up

George Selgin/September 14, 2018September 14, 2018 /4 Comments

In my last post I wrote about the lawsuit TNB USA Inc has filed against the New York Fed, which has refused to grant the would-be bank a Master Account. I argued that, despite its name (TNB stands for "The Narrow Bank"), and despite what some commentators…

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New York Fed, master account, TNB inc, narrow banking, ioer
Money & Politics, News, The Fed & Central Banks

The Skinny on The Narrow Bank

George Selgin/September 10, 2018September 12, 2018 /2 Comments

Dedicated Alt-M readers may recall my having reported here several years ago the suit filed by Colorado's Four Corner's Credit Union against the Kansas City Fed — after the Fed refused it a Master Account on the grounds that it planned to cater to Colorado's marijuana-related businesses….

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fractional reserve banking, reserve requirements, Austrian economics, business cycle theory, Federal Reserve
Banking Regulation, Economic History, Economic Thought

Fractional Reserve Banking and "Austrian" Business Cycles, Part III

George Selgin/August 28, 2018August 28, 2018 /15 Comments

In the first of this series of posts, I explained that the mere presence of fractional-reserve banks itself has little bearing on an economy's rate of money growth, which mainly depends on the growth rate of its stock of basic (commodity or fiat) money. The one exception…

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Recent Posts

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About Us

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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