By Lawrence H. White
New York: Cambridge University Press, 2023.
Pp. xi, 236. $29.95 paperback.
Larry White has written another fine book on monetary economics. would make a great textbook for an advanced undergrad or master’s class and a good reference guide for monetary researchers too. His approach is analytical, but he makes only limited use of equations. His writing style is clear and engaging, and his arguments are correct. Well, by , I mean that he has the same views as me, and he is always correct, except when he discusses me. (There is a small slip on page 124, where White writes, “In no known historical case has an irredeemable money standard resulted from a free-market-driven evolution of bank reserves from a positive fraction of liabilities down to zero,
