29 min listen
George Selgin on the Fed
FromEconTalk
ratings:
Length:
78 minutes
Released:
Dec 6, 2010
Format:
Podcast episode
Description
George Selgin, of the University of Georgia, talks with EconTalk host Russ Roberts about whether the creation of the Federal Reserve in 1913 has been a boon or a bust for the U.S. economy. Drawing on a recent paper by William Lastrapes and Lawrence White recently released by the Cato Institute, "Has the Fed Been a Failure?" Selgin argues that the Fed has done poorly at two missions often deemed to justify a central bank: lender of last resort and smoother of the business cycle. Selgin makes the case that avoiding bank runs and bank panics does not require a central bank and that contrary to received wisdom, it is hard to argue that the Fed has smoothed the business cycle. Additional topics discussed include whether the Fed has the information to do its jobs well, the role of the Fed in moral hazard, and the potential for the gold standard to outperform the Fed.
Released:
Dec 6, 2010
Format:
Podcast episode
Titles in the series (100)
Giving Away Money: An Economist's Guide to Political Life: The economics of politics, rent-seeking, and lobbying, by Russ Roberts and Mike Munger. by EconTalk