Malignant Monetary Monocentricity
By Alexander William Salter
Central bank monopolies are rife with informational and incentive problems that make it unlikely for them to prevent economic bubbles and recessions from ever occurring. In contrast, a monetary system with many centers of authority and controlsomething akin to historical free bankingis inherently less prone to such problems and therefore is more capable of ensuring prolonged macroeconomic stability.
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|Fall 2018||Space Capitalism:How Humans Will Colonize Planets, Moons, and Asteroids|
|Spring 2018||The Political Economy of Public Debt:Three Centuries of Theory and Evidence|
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