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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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Bagehot

lender of last resort, bank runs, panics, monetary primer
Free Banking, Monetary Policy Primer, Recommended Reading, The Fed & Central Banks

A Monetary Policy Primer, Part 11: Last-Resort Lending

George Selgin/August 8, 2017June 19, 2022

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…

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Bagehot, George Selgin, Ben Bernanke, lender of last resort, government bailouts
Financial Markets, Money & Politics, The Fed & Central Banks

George Selgin Talks Crisis on EconTalk

Tom Clougherty/December 15, 2015June 19, 2022

CMFA Director George Selgin recently appeared on EconTalk, the weekly podcast from the Library for Economics and Liberty hosted by Russ Roberts.  He and Russ discussed the causes of the 2007–08 financial crisis and the Fed’s response to it, with George drawing on his Alt-M reviews (see…

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courage to act, Bernanke, Federal Reserve, Fed, bailouts, moral hazard, TBTF, too big to fail
Money & Politics, News, The Fed & Central Banks

The Courage to Refuse

George Selgin/October 31, 2015June 19, 2022

[A well-known consequence of the Fed's rescue efforts consists of the "moral hazard" they pose–that is, their tendency to encourage extra risk-taking by persons who suppose that they, too, will be rescued  if their wagers don't pay. Yet one particularly dangerous sort of moral hazard  hasn't gotten…

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Contributors

  • Jennifer Schulp
  • Hu McCulloch
  • George Selgin
  • James Dorn
  • Larry White
  • Norbert Michel

Categories

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  • Fiat Money (81)
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  • Legal Analysis (3)
  • Monetary Policy Primer (12)
  • Money & Politics (334)
  • News (258)
  • Recommended Reading (99)
  • Securities Regulation (7)
  • The Fed & Central Banks (381)
  • Uncategorized (11)
  • Working Papers (7)

Recent Posts

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  • 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
  • How Common Has Private Currency Been?

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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