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Financial stability without central banks
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- Book Synopsis
- George Selgin is one of the world's foremost monetary historians. In this book, based on the 2016 Hayek Memorial Lecture, he shows how a system of private banks without a central bank can bring about financial stability through self-regulation. If one bank stretches credit too far, it will be reined in by the others before the system as a whole gets out of control. The banks have a strong incentive to ensure an orderly resolution if a particular bank is facing insolvency or illiquidity. Selgin d
- Product Details
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- ISBN
- 9780255367523
- Format
- Book
- Publisher
- Institute of Economic Affairs, (18 January 2018)
- Weight
- 110 grams
- Language
- English
- Dimensions
- 131 x 199 x 14 mm
- Series:
- See all books in this series
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