In this episode of The Yaron Brook Show, Don Watkins interviews George Selgin, 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. Together they discuss the ethics and economics of fractional reserve banking, the cause of inflation and instability, pre-Fed “panics” and the Fed’s role in the financial crisis of 2008.

Additional resources:

• “Is Fractional-Reserve Banking Inflationary?” by George Selgin

• “Should We Let Banks Create Money?” by George Selgin

• “Has the Fed Been a Failure?” by George Selgin

• Less Than Zero: The Case for a Falling Price Level in a Growing Economy by George Selgin

• Free Banking and the Fed [Video] with George Selgin

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