Podcast appearances and mentions of George Selgin

Join us on Madison's Notes as we sit down with George Selgin, senior fellow and director emeritus of the Cato Institute's Center for Monetary and Financial Alternatives and professor emeritus of economics at the University of Georgia. In this insightful conversation, Selgin unpacks the myths and realities of FDR's New Deal through the lens of his book, False Dawn: The New Deal and the Promise of Recovery, 1933–1947 (University of Chicago Press, 2025). While the New Deal is often celebrated as a bold and successful response to the Great Depression, Selgin argues that many of its policies actually prolonged economic suffering—with unemployment remaining staggeringly high years later. Drawing on extensive historical and economic analysis, he separates the New Deal's successes from its failures, examines the distinct roles of fiscal and monetary policy, and reveals the overlooked factor that truly ended the Great Depression (hint: it wasn't just WWII). This episode challenges conventional narratives and offers crucial lessons for navigating future economic crises. Tune in for a nuanced discussion on why we must assess policy decisions carefully—learning from the past to build a more resilient future. Madison's Notes is the podcast of Princeton University's James Madison Program in American Ideals and Institutions. Contributions to and/or sponsorship of any speaker does not constitute departmental or institutional endorsement of the specific program, speakers or views presented. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/american-studies

Join us on Madison's Notes as we sit down with George Selgin, senior fellow and director emeritus of the Cato Institute's Center for Monetary and Financial Alternatives and professor emeritus of economics at the University of Georgia. In this insightful conversation, Selgin unpacks the myths and realities of FDR's New Deal through the lens of his book, False Dawn: The New Deal and the Promise of Recovery, 1933–1947 (University of Chicago Press, 2025). While the New Deal is often celebrated as a bold and successful response to the Great Depression, Selgin argues that many of its policies actually prolonged economic suffering—with unemployment remaining staggeringly high years later. Drawing on extensive historical and economic analysis, he separates the New Deal's successes from its failures, examines the distinct roles of fiscal and monetary policy, and reveals the overlooked factor that truly ended the Great Depression (hint: it wasn't just WWII). This episode challenges conventional narratives and offers crucial lessons for navigating future economic crises. Tune in for a nuanced discussion on why we must assess policy decisions carefully—learning from the past to build a more resilient future. Madison's Notes is the podcast of Princeton University's James Madison Program in American Ideals and Institutions. Contributions to and/or sponsorship of any speaker does not constitute departmental or institutional endorsement of the specific program, speakers or views presented. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/politics-and-polemics

Join us on Madison's Notes as we sit down with George Selgin, senior fellow and director emeritus of the Cato Institute's Center for Monetary and Financial Alternatives and professor emeritus of economics at the University of Georgia. In this insightful conversation, Selgin unpacks the myths and realities of FDR's New Deal through the lens of his book, False Dawn: The New Deal and the Promise of Recovery, 1933–1947 (University of Chicago Press, 2025). While the New Deal is often celebrated as a bold and successful response to the Great Depression, Selgin argues that many of its policies actually prolonged economic suffering—with unemployment remaining staggeringly high years later. Drawing on extensive historical and economic analysis, he separates the New Deal's successes from its failures, examines the distinct roles of fiscal and monetary policy, and reveals the overlooked factor that truly ended the Great Depression (hint: it wasn't just WWII). This episode challenges conventional narratives and offers crucial lessons for navigating future economic crises. Tune in for a nuanced discussion on why we must assess policy decisions carefully—learning from the past to build a more resilient future. Madison's Notes is the podcast of Princeton University's James Madison Program in American Ideals and Institutions. Contributions to and/or sponsorship of any speaker does not constitute departmental or institutional endorsement of the specific program, speakers or views presented. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/public-policy

Join us on Madison's Notes as we sit down with George Selgin, senior fellow and director emeritus of the Cato Institute's Center for Monetary and Financial Alternatives and professor emeritus of economics at the University of Georgia. In this insightful conversation, Selgin unpacks the myths and realities of FDR's New Deal through the lens of his book, False […]

Join us on Madison's Notes as we sit down with George Selgin, senior fellow and director emeritus of the Cato Institute's Center for Monetary and Financial Alternatives and professor emeritus of economics at the University of Georgia. In this insightful conversation, Selgin unpacks the myths and realities of FDR's New Deal through the lens of his book, False Dawn: The New Deal and the Promise of Recovery, 1933–1947 (University of Chicago Press, 2025). While the New Deal is often celebrated as a bold and successful response to the Great Depression, Selgin argues that many of its policies actually prolonged economic suffering—with unemployment remaining staggeringly high years later. Drawing on extensive historical and economic analysis, he separates the New Deal's successes from its failures, examines the distinct roles of fiscal and monetary policy, and reveals the overlooked factor that truly ended the Great Depression (hint: it wasn't just WWII). This episode challenges conventional narratives and offers crucial lessons for navigating future economic crises. Tune in for a nuanced discussion on why we must assess policy decisions carefully—learning from the past to build a more resilient future. Madison's Notes is the podcast of Princeton University's James Madison Program in American Ideals and Institutions. Contributions to and/or sponsorship of any speaker does not constitute departmental or institutional endorsement of the specific program, speakers or views presented. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

Nearly a century after President Franklin Delano Roosevelt spearheaded a sweeping set of economic policies known as the New Deal, the debate still rages over whether he was a hero or a villain. Defenders of the New Deal credit it with ending the Great Depression and pioneering a number of important social programs. Detractors claim it prolonged the Depression due to the reckless government spending demanded by Keynesian economics. Matt Kibbe sits down with George Selgin, author of "False Dawn," who argues that both of these viewpoints miss important details about the New Deal and its impact on the economy. In the first place, it was not particularly Keynesian in its approach to spending. Instead, it was Roosevelt's hostility toward private industry that delayed America's recovery for so long.

On this special greatest hits compilation episode our host David Beckworth primes listeners for the Fed Framework Review by highlighting the best snippets from past shows discussing nominal GDP targeting. This episode includes Mary Daly's thoughts on NGDP targeting, Evan Koenig on the basics of NGDP targeting, George Selgin on Powell's hesitations with NGDP targeting and how it responds to supply shocks, Jim Bullard on the financial stability of NGDP targeting, Eric Sims on the New Keynesian argument for NGDP targeting, Carola Binder on the benefits of NGDP targeting, Charlie Evans on the prospects of NGDP target, and much more. Check out the transcript for this week's episode, now with links. Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel  Timestamps: (00:00:00) – Intro (00:02:31) – Mary Daly on Nominal GDP Targeting Considerations for the 2024-25 Fed Framework Review (00:06:13) – Evan Koenig on the Basics and Preferred Structure of a Nominal GDP Targeting Framework (00:14:17) – George Selgin on Chair Powell's Concerns About Nominal GDP Targeting (00:21:35) – Jim Bullard on the Financial Stability Argument for Nominal GDP Targeting (00:24:12) – Eric Sims on the New Keynesian Rationale for Nominal GDP Targeting (00:28:23) – Carola Binder on Two Major Benefits of Nominal GDP Targeting (00:33:40) – George Selgin on How Nominal GDP Targeting Would Handle Supply Shocks (00:46:55) – Charlie Evans on the Prospects for Nominal GDP Targeting During the 2024-25 Fed Framework Review (00:50:57) – Bonus Segment: Enhancing the Nominal GDP Targeting Framework (00:53:08) – Gauti Eggertsson on the Merits of a Cumulative Nominal GDP Level Target (00:55:50) – Scott Sumner on Targeting a Nominal GDP Futures Contract (01:04:25) – Outro

In this episode, we sit down with George Selgin, Director Emeritus at the Cato Institute's Center for Monetary and Financial Alternatives, to explore his views on money, markets, and bitcoin's role in the global economy. George shares his journey from studying marine biology to becoming a leading voice in monetary economics and discusses how definitions of money have evolved. We examine bitcoin's classification as a synthetic commodity, its potential as a store of value, and whether it could ever replace the US dollar. George also analyzes the proposed bitcoin strategic reserve, highlighting its costs, risks, and implications for government debt.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Buy bitcoin in an IRA—sign up today and get your first year free: unchained.com/frontierTIMESTAMPS:00:00:00 - Intro00:01:11 - Introducing George Selgin's background and career00:07:42 - Moving from Hong Kong to the University of Georgia00:09:50 - Defining money and its role in economics00:12:12 - Explaining why bitcoin doesn't meet the definition of money00:13:31 - Defining the dollar and its place in the economy00:15:52 - Understanding gold's history and modern role00:19:11 - Analyzing bitcoin as a synthetic commodity00:21:51 - Evaluating bitcoin as a store of value vs. medium of exchange00:24:52 - Discussing bitcoin's long-term price potential00:29:21 - Examining markets, prices, and bitcoin's future00:36:13 - Questioning if the US dollar could be replaced00:42:36 - Evaluating the bitcoin strategic reserve proposal00:49:11 - Breaking down the costs and risks of a bitcoin reserve00:55:00 - Closing thoughts and where to follow George SelginWHERE TO FOLLOW US:→ Unchained Twitter: https://twitter.com/unchainedcom→ Unchained LinkedIn: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett's Twitter: https://twitter.com/IIICapital→ George Selgin's Twitter: https://x.com/GeorgeSelgin

2024 was nothing short of transformative for the crypto world. From bitcoin's relentless climb amidst macroeconomic shifts to Solana's continued rise amidst meme coin mania, this year saw narratives unfold that no one could have predicted.  In this special episode that has become a tradition at Unchained, Laura revisits the biggest moments of the year, featuring insightful clips from the standout guests who joined Unchained and Bits + Bips in 2024. Whether it was further institutional adoption, debates over decentralization, the victory over Gary Genser's regulation by enforcement strategy, or the taking off of AI agents, this year marked a turning point for crypto. Tune in for a reflective journey through the year that was—and a glimpse of what lies ahead in 2025. Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Robinhood & Arbitrum Highlights and Timestamps: 03:15 | Matt Hougan on the significance of spot bitcoin ETFs 04:31 | Jesse Pollak explains the impact of Ethereum's Dencun upgrade 05:43 | Eric Balchunas on the rapid adoption of bitcoin ETFs 07:53 | Kyle Davies reflects on 3AC's collapse 10:11 | Carlos Domingo discusses BlackRock's BUIDL fund 11:13 | Sam Enzer on the reasoning behind SBF's sentencing 13:04 | Arthur Hayes debates the potential of a bitcoin supercycle 15:44 | Ansem breaks down the memecoin craze 16:42 | Eric Balchunas and Matt Hougan on ether ETF approval 18:18 | James Seyffart on SEC politics and ETF decisions 19:51 | Laura Brookover on the end of the Ethereum 2.0 probe 21:08 | Bryan Pellegrino on tackling Sybil attacks with LayerZero 23:42 | Iggy Azalea on her fascination with memecoins 24:31 | Joe McCann on how the assassination attempt influenced Trump's win 25:47 | Ro Khanna on the democratic party's stance on crypto 26:44 | George Selgin critiques a U.S. bitcoin reserve proposal 28:35 | Nick Tomaino on the truth-finding power of prediction markets 29:50 | Jack Booth on TON's viral growth strategies 31:58 | Jeff Dorman on why the ETH sell-off was a buying opportunity 32:29 | Caitlin Long and Michelle Kallen on their lawsuit against the Fed 33:52 | Justin Bons on why layer 2s might be parasitic to Ethereum 35:13 | Taylor Monahan on how North Koreans infiltrated crypto companies 36:42 | Taylor Monahan recounts a failed North Korean job interview 39:13 | Teng Yan on how truth terminal redefined AI and crypto 40:36 | Ryan Salame on DOJ dealings and his guilty plea 42:40 | Alex Kruger on Trump's election and its crypto impact 43:44 | Jeff Park on Uniswap and Solana's post-election gains 44:57 | Faryar Shirzad on the success of the FairShake PAC 46:15 | Eric Balchunas on the importance of bitcoin ETF options 47:26 | Cody Carbone on Paul Atkins' nomination as SEC chair 48:19 | Mike Selig on David Sacks as crypto and AI czar 49:27 | French Hill on token standards under FIT21 50:33 | Maria Shen on Solana's rise in new developer activity Learn more about your ad choices. Visit megaphone.fm/adchoices

2024 was nothing short of transformative for the crypto world. From bitcoin's relentless climb amidst macroeconomic shifts to Solana's continued rise amidst meme coin mania, this year saw narratives unfold that no one could have predicted.  In this special episode that has become a tradition at Unchained, Laura revisits the biggest moments of the year, featuring insightful clips from the standout guests who joined Unchained and Bits + Bips in 2024. Whether it was further institutional adoption, debates over decentralization, the victory over Gary Genser's regulation by enforcement strategy, or the taking off of AI agents, this year marked a turning point for crypto. Tune in for a reflective journey through the year that was—and a glimpse of what lies ahead in 2025. Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Robinhood & Arbitrum Highlights and Timestamps: 03:15 | Matt Hougan on the significance of spot bitcoin ETFs 04:31 | Jesse Pollak explains the impact of Ethereum's Dencun upgrade 05:43 | Eric Balchunas on the rapid adoption of bitcoin ETFs 07:53 | Kyle Davies reflects on 3AC's collapse 10:11 | Carlos Domingo discusses BlackRock's BUIDL fund 11:13 | Sam Enzer on the reasoning behind SBF's sentencing 13:04 | Arthur Hayes debates the potential of a bitcoin supercycle 15:44 | Ansem breaks down the memecoin craze 16:42 | Eric Balchunas and Matt Hougan on ether ETF approval 18:18 | James Seyffart on SEC politics and ETF decisions 19:51 | Laura Brookover on the end of the Ethereum 2.0 probe 21:08 | Bryan Pellegrino on tackling Sybil attacks with LayerZero 23:42 | Iggy Azalea on her fascination with memecoins 24:31 | Joe McCann on how the assassination attempt influenced Trump's win 25:47 | Ro Khanna on the democratic party's stance on crypto 26:44 | George Selgin critiques a U.S. bitcoin reserve proposal 28:35 | Nick Tomaino on the truth-finding power of prediction markets 29:50 | Jack Booth on TON's viral growth strategies 31:58 | Jeff Dorman on why the ETH sell-off was a buying opportunity 32:29 | Caitlin Long and Michelle Kallen on their lawsuit against the Fed 33:52 | Justin Bons on why layer 2s might be parasitic to Ethereum 35:13 | Taylor Monahan on how North Koreans infiltrated crypto companies 36:42 | Taylor Monahan recounts a failed North Korean job interview 39:13 | Teng Yan on how truth terminal redefined AI and crypto 40:36 | Ryan Salame on DOJ dealings and his guilty plea 42:40 | Alex Kruger on Trump's election and its crypto impact 43:44 | Jeff Park on Uniswap and Solana's post-election gains 44:57 | Faryar Shirzad on the success of the FairShake PAC 46:15 | Eric Balchunas on the importance of bitcoin ETF options 47:26 | Cody Carbone on Paul Atkins' nomination as SEC chair 48:19 | Mike Selig on David Sacks as crypto and AI czar 49:27 | French Hill on token standards under FIT21 50:33 | Maria Shen on Solana's rise in new developer activity Learn more about your ad choices. Visit megaphone.fm/adchoices

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute. George is also a returning guest to the program, and he rejoins David on Macro Musings to talk about crypto, strategic Bitcoin reserves, and the Fed's framework review. Specifically, David and George also discuss George's outlook for a strategic Bitcoin reserve in the US, the significance of the debanking problem, the path to adopting a nominal GDP targeting framework, and much more.   Transcript for this week's episode.   George's Twitter: @GeorgeSelgin George's Cato profile   David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings   Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server!   Join the Macro Musings mailing list! Check out our Macro Musings merch!   Related Links:   *The ‘Digital Gold' Fallacy, or Why Bitcoin Can't Save the US Dollar* by George Selgin   *The Fed's 2024-25 Framework Review: Optimizing the Dual Mandate Through Nominal GDP Level Targeting* by David Beckworth   *Building a Better Fed Framework* – A monetary policy conference hosted by the American Institute for Economic Research (AIER)   Caitlin Long's X thread on debanking   David Marcus's X thread on how Libra was killed   *Does Sovereign Default Risk Explain Cryptocurrency Adoption? International Evidence from Mobile Apps* by Rashad Ahmed, Stephen Karolyi, and Leili Pour Rostami   *Digital Gold: Evaluating a Strategic Bitcoin Reserve for the United States* by the Bitcoin Policy Institute   *Trump Likes the Idea of a Federal Bitcoin Reserve. Don't Laugh.* by Tyler Cowen   Timestamps:   (00:00:00) – Intro   (00:01:34) – Evaluating the Strategic Bitcoin Reserve and Digital Gold   (00:26:22) – George's Outlook for the Strategic Bitcoin Reserve   (00:34:16) – The Significance of the Debanking Problem and the Case of Libra   (00:43:18) – *Building a Better Fed Framework*: George's Takeaways   (00:49:16) – The Path to Nominal GDP Targeting: Incremental vs. Radical   (00:54:10) – Characterizing a Fed Framework Consensus   (01:00:13) – Outro

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In this episode, George Selgin, senior fellow at the Cato Institute, discusses the recent proposals by Donald Trump, Robert F. Kennedy Jr., and Senator Cynthia Lummis for the U.S. government to establish a strategic bitcoin reserve. George provides his insights into the differences between these proposals, their potential implications, and why he believes the government should not be investing in bitcoin or other assets. Show highlights: 00:00 Intro 01:16 How the Bitcoin proposals by Trump, RFK Jr., and Lummis differ 04:08 Why George believes that Trump's proposal to not sell the government's bitcoin is just symbolic  07:36 What the purpose of acquiring BTC is in the Lummis and RFK proposals 11:29 Whether the government should even be investing in bitcoin or other assets 18:53 How would the government buy BTC as per the Lummis bill 25:08 How likely is it that the bill passes through Congress 27:40 Crypto News Recap Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! iTrustCapital Polkadot Guest George Selgin, Senior Fellow and Director Emeritus of the Cato Institute's Center for Monetary and Financial Alternatives Links Trump's proposal: Unchained:  At Bitcoin Conference, Trump Promises to Fire SEC Chair Gary Gensler If He Wins Trump Has Made Promises to Crypto Voters. If He's Elected, What Could He Actually Do? Lummis proposal:  Unchained: A Bitcoin Strategic Reserve for the U.S.? Senator Cynthia Lummis Reveals Her Bill  Decrypt: There's a Problem With Senator Lummis' Bitcoin Reserve Plan, Cato Institute Expert Says  Lummis Introduces Strategic Bitcoin Reserve Legislation RFK. Jr proposal:  RFK Jr. Proposes 550 Daily Bitcoin Purchase Plan for U.S. Economy | Kennedy24 Learn more about your ad choices. Visit megaphone.fm/adchoices

Presidential candidates Donald Trump and RFK Jr., as well as Senator Cynthia Lummis, have proposed the U.S. establish a strategic bitcoin reserve. George Selgin of the Cato Institute unpacks their various proposals.Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.In this episode, George Selgin, senior fellow at the Cato Institute, discusses the recent proposals by Donald Trump, Robert F. Kennedy Jr., and Senator Cynthia Lummis for the U.S. government to establish a strategic bitcoin reserve. George provides his insights into the differences between these proposals, their potential implications, and why he believes the government should not be investing in bitcoin or other assets.Show highlights:How the Bitcoin proposals by Trump, RFK Jr., and Lummis differWhy George believes that Trump's proposal to not sell the government's bitcoin is just symbolic What the purpose of acquiring BTC is in the Lummis and RFK proposalsWhether the government should even be investing in bitcoin or other assetsHow would the government buy BTC as per the Lummis billHow likely is it that the bill passes through CongressVisit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.comThank you to our sponsors!iTrustCapitalPolkadotGuestGeorge Selgin, Senior Fellow and Director Emeritus of the Cato Institute's Center for Monetary and Financial AlternativesUnchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this episode, George Selgin, senior fellow at the Cato Institute, discusses the recent proposals by Donald Trump, Robert F. Kennedy Jr., and Senator Cynthia Lummis for the U.S. government to establish a strategic bitcoin reserve. George provides his insights into the differences between these proposals, their potential implications, and why he believes the government should not be investing in bitcoin or other assets. Show highlights: 00:00 Intro 01:16 How the Bitcoin proposals by Trump, RFK Jr., and Lummis differ 04:08 Why George believes that Trump's proposal to not sell the government's bitcoin is just symbolic  07:36 What the purpose of acquiring BTC is in the Lummis and RFK proposals 11:29 Whether the government should even be investing in bitcoin or other assets 18:53 How would the government buy BTC as per the Lummis bill 25:08 How likely is it that the bill passes through Congress 27:40 Crypto News Recap Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! iTrustCapital Polkadot Guest George Selgin, Senior Fellow and Director Emeritus of the Cato Institute's Center for Monetary and Financial Alternatives Links Trump's proposal: Unchained:  At Bitcoin Conference, Trump Promises to Fire SEC Chair Gary Gensler If He Wins Trump Has Made Promises to Crypto Voters. If He's Elected, What Could He Actually Do? Lummis proposal:  Unchained: A Bitcoin Strategic Reserve for the U.S.? Senator Cynthia Lummis Reveals Her Bill  Decrypt: There's a Problem With Senator Lummis' Bitcoin Reserve Plan, Cato Institute Expert Says  Lummis Introduces Strategic Bitcoin Reserve Legislation RFK. Jr proposal:  RFK Jr. Proposes 550 Daily Bitcoin Purchase Plan for U.S. Economy | Kennedy24 Learn more about your ad choices. Visit megaphone.fm/adchoices

Bob continues his feud with George Selgin, explaining why the alleged free banking period in Scotland doesn't show that free-market banks would carry low reserve ratios.Reason Debate Between Bob and George Selgin: Mises.org/HAP453aGeorge Selgin Interview on Free Banking: Mises.org/HAP453bSelgin's Response to Bob on Twitter: Mises.org/HAP453cRothbard's Economic Controversies: Mises.org/HAP453dJoin us in October for a weekend of celebration at the 2024 Mises Institute Supporters Summit in Hilton Head, South Carolina. Registration is open for Mises Members at Mises.org/SS24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

Bob continues his feud with George Selgin, explaining why the alleged free banking period in Scotland doesn't show that free-market banks would carry low reserve ratios.Reason Debate Between Bob and George Selgin: Mises.org/HAP453aGeorge Selgin Interview on Free Banking: Mises.org/HAP453bSelgin's Response to Bob on Twitter: Mises.org/HAP453cRothbard's Economic Controversies: Mises.org/HAP453dJoin us in October for a weekend of celebration at the 2024 Mises Institute Supporters Summit in Hilton Head, South Carolina. Registration is open for Mises Members at Mises.org/SS24The Mises Institute is giving away 100,000 copies of Murray Rothbard's, What Has Government Done to Our Money? Get your free copy at Mises.org/HAPodFree

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute and professor emeritus of economics at the University of Georgia. He is the author of numerous books, including ‘The Theory of Free Banking', ‘Floored! How a Misguided Fed Experiment Deepened and Prolonged the Great Recession' and ‘The Menace of Fiscal QE'. George is one of the founders, with Kevin Dowd and Lawrence H. White, of the Modern Free Banking School, which draws its inspiration from the writings of F. A. Hayek on denationalization of money and choice in currency. In this podcast, we discuss how marine biology helps you understand economics, how the Fed fundamentally changed after the Global Financial Crisis, understanding the Fed's abundant reserves policy, and much more.    Follow us here for more amazing insights: https://macrohive.com/home-prime/ https://twitter.com/Macro_Hive https://www.linkedin.com/company/macro-hive

In BMS ep. 322, Bob criticized a recent interview of George Selgin regarding the lack of historical examples of 100% reserve banking. In this episode, Bob responses to George's pushback (on Twitter) and also Larry White's in-print response to Rothbard's old critique of the Scottish "free banking" episode.Mentioned in the Episode and Other Links of Interest:What started this fiasco: BMS ep. 322, "Selgin vs. Selgin."Rothbard's critique of Larry White on the Scottish episode (starts p. 859). White's response (chap. 3).John Cochrane on The Narrow Bank. Selgin's contrarian take.Selgin on the history of 100% reserve banks.Block and Barnett on maturity mismatching.Murphy's journal article critiquing the Selgin/White view of fractional reserve free banking. Murphy's book Understanding Money Mechanics.Help support the Bob Murphy Show.

Bob responds to a recent interview where George Selgin says the historical record proves that fractional reserve banking is a market outcome. Bob gives two separate reasons, and ironically plays different Selgin clips to validate each of them.Mentioned in the Episode and Other Links of Interest:Selgin's interview on free banking. His debate with Murphy at the Soho Forum. And his recent interview with David Beckworth on Custodia.Murphy interviews Selgin on banks as credit intermediaries.John Cochrane on The Narrow Bank.Murphy's journal article critiquing the Selgin/White view of fractional reserve free banking.Help support the Bob Murphy Show.

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute. George is also a frequent guest of the podcast, and he rejoins Macro Musings to talk about some of the recent developments in the monetary and fiscal policy space. Specifically, David and George discuss recent updates regarding Fed master accounts, the problematic aspects of the Fed's balance sheet, why a second Trump term would threaten central bank independence, and much more.   Transcript for this week's episode.   George's Twitter: @GeorgeSelgin George's Cato profile   David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings   Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server!   Join the Macro Musings mailing list! Check out our Macro Musings merch!   Related Links:   Caitlin Long's tweet regarding the Fed's special treatment for approving master accounts   *Public comments on the Proposed Guidelines for Evaluating Requests for Accounts and Services* by George Selgin   *Custodia Bank Inc v. Federal Reserve Board of Governors* Court documents from the Wyoming District Court   *Annual Report on Open Market Operations (2023)* by the Federal Reserve Bank of New York   *Trump Allies Draw Up Plans to Blunt Fed's Independence* by Andrew Restuccia, Nick Timiraos, and Alex Leary   *Trump Advisers Discuss Penalties for Nations That Move Away From the Dollar* by Saleha Mohsin, Jennfier Jacobs, and Nancy Cook   *Hayek versus Keynes on How the Price Level Ought to Behave* by George Selgin   *The Menace of Fiscal QE* by George Selgin   *George Selgin on False Dawn: The New Deal and the Promise of Recovery* by Macro Musings   Timestamps:   (00:01:36) – Intro   (00:06:26) – Updates on Fed Master Accounts and the Custodia Case   (00:17:57) – Problematic Aspects of the Fed's Balance Sheet   (00:22:50) – The Importance of the Overnight Unsecured Interbank Lending Market   (00:34:26) – Responding to the Jared Bernstein Incident   (00:46:33) – Donald Trump, Central Bank Independence, and Dollar Dominance   (00:56:54) – Outro

Una de las primeras madrigueras que investigamos los bitcoiners es la del dinero FIAT y en ella, a parte de aprender su historia, funcionamiento y motivación, buscamos conocer todas las debilidades de su divisa reina: el dólar. Este campo de investigación encontramos algunos grupos de economistas -- como el presente en la comunidad Alt-M del instituto CATO, con tales como Lawrence White o George Selgin -- que con sus investigaciones y escritos buscan promover ideas para un futuro monetario alternativo. Lo interesante y sorprendente (!) es ver cómo muchos de estos economistas también apoyan algo que parecería incoherente con lo mencionado hasta ahora: la dolarización ¿Qué es este fenómeno monetario que ha vuelto ha vuelto a poner de relevancia Javier Milei en Argentina? Y sobretodo ¿Cómo se compatibiliza un sistema alternativo de política monetaria que utiliza la divisa que se quiere abandonar? LINKS: Twitter de Luis: https://twitter.com/luisesgo TikTok de Luis: https://www.tiktok.com/@luisespinosagoded Escúchame en Fountain aquí https://fountain.fm/lunaticoin Más información en mi BLOG https://lunaticoin.blog Twitter: https://twitter.com/lunaticoin Nostr: https://snort.social/p/npub1yn3hc8jmpj963h0zw49ullrrkkefn7qxf78mj29u7v2mn3yktuasx3mzt0 Contenido adicional en mi Patreon: https://www.patreon.com/lunaticoin Mención especial a los sponsors de este podcast: Compra bitcoin sin KYC en HodlHodl: https://bit.ly/hodlhodl-luna Custodia tus bitcoin con Coldcard de Coinkite: https://bit.ly/coinkite-luna Vive con bitcoin en Bitrefill: https://bit.ly/Luna_Bitrefill Crea, edita y comparte hypertexto sin que nadie te frene en Mintter ⁠https://mintter.com/⁠ Y por cierto, ¿has conseguido ya el recién publicado The Blocksize War de Jonathan Bier con prólogo de Miguel Vidal, 100% traducido al español gracias a https://bit.ly/Prometea_Luna ? 100% recomendable

Central banks have an impossible task: to establish a correct price of money.  They are doomed to fail.  An ideal system will require no central banks but a basic money with supply regulated according to its velocity - says George Selgin, an expert on monetary economics working at Cato Institute.Video version of the podcast

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute. George is also a frequent guest on Macro Musings, and he rejoins the podcast to talk about some of the recent developments in the monetary and financial policy space. Specifically, David and George discuss the history and present developments surrounding FedNow, the future of real-time payments, how to revise the Fed's operating system, whether the Fed is currently delivering on a soft landing, and a lot more.   Transcript for this week's episode.   George's Twitter: @GeorgeSelgin George Cato Institute profile   David Beckworth's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings   Join the Macro Musings mailing list! Check out our new Macro Musings merch!   Related Links:   *George Selgin on False Dawn: The New Deal and the Promise of Recovery* by Macro Musings   *Getting Up From the Floor* by Claudio Borio   *Opening a Federal Reserve Account* by Julie Hill   *From Cannabis to Crypto: Federal Reserve Discretion in Payments* by Julie Hill   *Fiscal Arithmetic and the Global Inflation Outlook* by Peder Beck-Friis and Richard Clarida

John Moser discusses the history of 20th Century bank failures in America with Dr. George Selgin. They look deeply at Federal Reserve regulatory policy and deposit insurance and the unintended consequences - good and bad - of federal government entanglement with the banking sector.Host: Jeff SikkengaExecutive Producer: Greg McBrayerProducer: Jeremy GyptonApple Podcasts: https://tinyurl.com/3jcrp73mGoogle Podcasts: https://tinyurl.com/2p9n67aSpotify: https://tinyurl.com/ysw8xjtkAmazon Music: https://tinyurl.com/ytp6jwnzRSS Feed: https://tinyurl.com/2p9u2bvePodvine: https://podvine.com/podcast/the-american-ideaYouTube: https://tinyurl.com/3wwdre3a

This week's episode of The Mixtape with Scott is an interview with an old professor of mine from when I was at the University of Georgia, Dr. George Selgin. George was one of several really interesting professors I was fortunate enough to get to know while a PhD student there. One anecdote of the impression he made on me was that he was a handful of people who ever read my dissertation. He gave back to me a massive marked up document full of suggestions and a lot of red underlines — not just to the job market paper, but all three chapters. Which was remarkable for two reasons: he was not an applied microeconomist and he wasn't even on my dissertation committee. He also came to my defense and was perhaps the single most vocal one there. Being able to answer his questions was one of my happier moments of that late end of that period, as it felt like George took me very seriously and treated me as a peer. He did that with everyone. And that could be a bit intimidating since being George's peer usually meant some pretty serious conversations. But George was like that — he was extremely engaged in my education, but also to many others as well. I never took any courses from him, because I early on sorted into labor and econometrics, but I watched George closely all the time and interacted with him a lot. He gave each person his full attention, read their papers very closely no matter the field, and in seminars was always on top of everything. It was a lesson in areas I found to be valuable like individuality as an economist and taking ideas serious enough to battle with them. George is a monetary economist and economic historian. He was one of a handful of reasons I decided to go to Georgia at all. He had written a short pamphlet I'd somehow found in college on something obscure (to many anyway) called “praxeology”. That's something from Austrian economics, and originally I really thought economics was Austrian economics. Coming from a literature background, I'd never had any economics classes, so what I knew, I knew from reading classical liberals like Hayek, Mises, Milton Friedman and a couple others. I was spent a lot of time reading people from the Austrian tradition and the Chicago tradition, from the early to mid 20th century. I knew about George because of that praxeology pamphlet which I read backwards and forwards, over and over, trying to understand everything I could. Imagine my surprise when first year coursework did not involve any praxeology! “I was told there would be no math” I often thought to myself. So George is a hero of sorts of mine. He is an excellent writer, a very careful thinker, a wonderful economist and an inspiring professor. And he's going to be part of a longer series I'd like to do on what I'll just be calling “the two wings of the profession: Austrian economics and the heterodox traditions”. Although that's a mouthful. I am hoping to do interviews with places like George Mason University, as well as U Mass Amherst, the economists from the old Notre Dame economics department (now defunct), Riverside and more. These are important parts of our profession's history, with many interesting stories, and I don't think many people know them. But I'm hoping you will find them interesting. They'll be trickling in as I continue making progress towards them, but expect them to be scattered across season 2 and 3. If you like the podcast, consider liking, following, sharing, and subscribing! The podcast is a labor of love. I love the stories of our profession and the people in our profession a lot. I know others do too and I hope these stories speak to you as you continue navigating your own journey, wherever you are and whoever you are. Peace!Scott's Substack is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Get full access to Scott's Substack at causalinf.substack.com/subscribe

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute. George is also a frequent guest on Macro Musings and he rejoins the podcast to talk about some recent developments in the monetary and fiscal policy space. Specifically, David and George discuss new narratives around shadow banking and the financial crisis, the fiscal cost of large central bank balance sheets, the return of secular stagnation, and a lot more.   Transcript for the episode can be found here.   George's Twitter: @GeorgeSelgin George's Cato profile   David's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings   Click here for the latest Macro Musings episodes sent straight to your inbox! Check out our new Macro Musings merch here!   Related Links:   *A Monetary Policy Primer: Parts 1-12* by George Selgin   *Why Shadow Banking Didn't Cause the Financial Crisis* by Norbert Michel   *The Federal Reserve's Balance Sheet: Costs to Taxpayers of Quantitative Easing* by Andy Levin and Bill Nelson   *The Monetary Executive* by Christina Parajon Skinner   *Secular Stagnation is Not Over* by Olivier Blanchard   *The Hard Road to a Soft Landing: Evidence from a (Modestly) Nonlinear Structural Model* by Randal Verbrugge and Saeed Zaman   *Brazil and Argentina to Start Preparations for a Common Currency* by Michael Stott and Lucinda Elliott   *Floor Systems for Implementing Monetary Policy: Some Unpleasant Fiscal Arithmetic* by Aleksander Berentsen, Christopher Waller, and Alessandro Marchesiani   *Fallen Heroes: Central Banks Face Credibility Crisis as Losses Pile Up* by Johanna Treeck   *SNB Will Shrink Balance Sheet After Record Loss, Citigroup Says* by Bastian Benrath   *George Selgin on False Dawn: The New Deal and the Promise of Recovery* by Macro Musings

Show support appreciated: donations.cryptovoices.com Show Sponsor: hodlhodl.com/join/cryptovoices Matthew interviews George Selgin, monetary economist and historian. George gives a look-back at the repo meltdown in September 2019, as well as a deeper overview on the mechanics of the repo market. This has become more important in recent years, compared to the market for bank reserves ("Federal Funds" in US Fedspeak). Why? He goes back to his favorite hobby horse (his term) which is the interest paid on those reserves by the central bank, an anomaly that never occurred before 2008, and how that has affected the entire structure of the system, from the size of the balance sheet, to the broader money markets, including the repo and Treasury markets. George gives some latest thoughts on the growth of physical currency and the monetary base, and provides warning on the importance of such, due to the effects of interest on those bank reserves (the other part of the monetary base, along with physical currency). We finish with some thoughts on CBDCs, and though we didn't have time to incorporate Bitcoin, we certainly will do so next time! Listen on to learn more. Links for more info: https://twitter.com/GeorgeSelgin https://www.cato.org/center-monetary-financial-alternatives https://www.alt-m.org/author/selgin/ Show Sponsor: hodlhodl.com/join/cryptovoices Hosts: Matthew Mežinskis, Michel, Alec Harris Music: New Friend Music newfriendmusic.com/ Site: cryptovoices.com/ Podcast & information Bitcoin, privacy, cryptoeconomics & liberty Thanks for listening! Show content is not investment or financial advice in any way.

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute and is also a long-time returning guest of Macro Musings. In this bonus segment from the previous conversation, George rejoins the podcast to talk about his new book project on the Great Depression titled, False Dawn: The New Deal and the Promise of Recovery. Specifically, David and George discuss the broad contours of the Great Depression, including its causes as well as the pros and cons of the New Deal solutions that followed.   Transcript for the episode can be found here.   George's Twitter: @GeorgeSelgin George's Cato profile   David's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Click here for the latest Macro Musings episodes sent straight to your inbox!   Related Links:   Macro Musings: *Jason Taylor on the Great Depression, World War II, and “The Big Push”*   Macro Musings: *Doug Irwin on the History of US Trade Policy*   Macro Musings: *Sebastian Edwards on FDR, Gold, and the Great Depression*   *American Default: The Untold Story of FDR, the Supreme Court, and the Battle over Gold* by Sebastian Edwards

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute. George is also a frequent guest of the podcast, and he rejoins David on Macro Musings once again to discuss their top three articles from the past few weeks related to macroeconomics and monetary policy. Specifically, David and George talk about Jerome Powell's recent criticism of nominal GDP targeting, Lael Brainard's recent comments regarding FedNow and real-time payments, the debate surrounding the Fed's campaign against inflation, and a lot more.   Transcript for the episode can be found here.   George's Twitter: @GeorgeSelgin George's Cato profile    David's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Click here for the latest Macro Musings episodes sent straight to your inbox!   Related Links:   *A Conversation Between Federal Reserve Chair Jerome Powell and Peter Goettler* via the Cato Institute   *The Return of Inflation Makes Deficits More Dangerous* by Greg Ip   *Jerome Powell's Dilemma: What if the Drivers of Inflation Are Here to Stay?* by Nick Timiraos   *Primer: What is a Real-time Payments System, and Who Should Operate it?* by Thomas Wade   *Facts, Fears, and Functionality of NGDP Level Targeting* by David Beckworth   *Anchors Aweigh: The Transition from Commodity Money to Fiat Money in Western Economies* by Angela Redish

On Sep 19 2022, Samuel McCulloch interviewed Dr George Selgin, a senior fellow and director emeritus of the of the Center for Monetary and Financial Alternatives at the Cato Institute and professor emeritus of economics at the University of Georgia. His research covers a broad range of topics within the field of monetary economics, including monetary history, macroeconomic theory, and the history of monetary thought. George is one of the foremost experts on the history of private monies and his work has been invaluable to the crypto community. His work was referenced by Hal Finney, and he became one of the first economists to devote significant thought to Bitcoin after it was launched. This interview covers the ability of private money to operate competitively and the onerous regulations put on banks and other money issuers to monopolize seignorage.

American Economist and Director of the Cato Institute, George Selgin, joins me for a conversation about his book, “Money: Free and Unfree”. We discuss the history of the Fed, the consequences of centrally planned money, and the future of gold and Bitcoin.Be sure to check out Swan Private, the trusted Bitcoin financial services provider for high-net-worth individuals and businesses worldwide: https://www.swanprivate.com/breedloveGuestGeorge's Website: https://www.cato.org/people/george-selginGeorge's Twitter: https://twitter.com/GeorgeSelgin"Money: Free and Unfree" https://www.amazon.com/Money-Free-Unfree-George-Selgin/dp/1944424296PODCASTPodcast Website: https://whatismoneypodcast.com/Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400 Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1RSS Feed: https://feeds.simplecast.com/MLdpYXYITranscript:Outline00:00:00 “What is Money” Intro00:00:08 Swan Private00:01:37 Introducing George Selgin and his Book, “Money: Free and Unfree”00:06:30 The Consequences of Centrally Planned Money00:17:02 What Contributed to the Collapse of 1921?00:23:49 Differences in the Gold Standards Pre- and Post-191400:38:26 Watch "Hard Money with Natalie Brunell" From Swan Studios00:39:10 Take Control of Your Healthcare with Crowd Health00:40:19 What is the Geopolitical Relevance of Gold Today?01:03:52 The Current Federal Reserve System and the Pre-Fed National Currency System01:10:11 How Much Influence Does the Federal Reserve Have Today on the Modern Economy?01:13:44 How Do We Get to a Decentralized Money, and Where Does Bitcoin Fit In?01:19:32 Where To Find George Selgin's Work01:20:24 “What is Money” OutroSOCIALBreedlove Twitter: https://twitter.com/Breedlove22WiM? Twitter: https://twitter.com/WhatisMoneyShowLinkedIn: https://www.linkedin.com/in/breedlove22/Instagram: https://www.instagram.com/breedlove_22/TikTok: https://www.tiktok.com/@breedlove22?lang=enAll My Current Work: https://linktr.ee/breedlove22 WRITTEN WORKMedium: https://breedlove22.medium.com/Substack: https://breedlove22.substack.com/ WAYS TO CONTRIBUTEBitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7Sats via Strike: https://strike.me/breedlove22Sats via Tippin.me: https://tippin.me/@Breedlove22Dollars via Paypal: https://www.paypal.com/paypalme/RBreedloveDollars via Venmo: https://venmo.com/code?user_id=1784359925317632528The "What is Money?" Show Patreon Page: https://www.patreon.com/user?u=32843101&fan_landing=true RECOMMENDED BUSINESSESSwan Private guides high-net-worth individuals and businesses in all areas of Bitcoin strategy: https://www.swanprivate.com/breedloveCrowdHealth offers an innovative health insurance model based on Bitcoin and community: https://www.joincrowdhealth.com/breedloveOkcoin is an innovative and education-focused cryptoasset exchange platform—earn $50 in free Bitcoin by signing up at: https://okcoin.com/breedloveInvest with a licensed Bitcoin advisor through DAIM: https://daimio.typeform.com/RobertBreedloveJoin Me At Bitcoin 2023, pre-order your tickets now (for a chance to win 10M sats, use discount code BREEDLOVE): https://b.tc/conference/2023Automatic Recurring Bitcoin Buys and Withdrawals: https://www.swanbitcoin.com/breedlove/

If you enjoy this interview please help us grow by subscribing to the podcast and sharing it with your friends! Money has a long history, beginning with barter and leading all the way to your credit card. Kirk Hutchison founded Volt Protocol because he believes the next era of money is deflationary and disintermediated. He studied history at UC San Diego and arrived at a libertarian bent after seeing the similarities between market processes and equilibria in nature. Inspired by the rich theoretical work on free money systems by economists such as George Selgin, Friedrich Hayek, and Milton Friedman, Kirk is working to put this theory into practice using smart contracts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to episode 125 of Activist #MMT. Today's the first in a six-part series with Texas Christian University (TCU) economics professor and Cowboy Economist, John Harvey. The first three parts are hosted by me, the final three by MMT researcher, Texas lawyer, and my previous guest, Johnathan Wilson. Jonathan and John talk about how MMT can apply to nations outside the US, using Russia as an example, and also some of the core theoretical and ideological differences between MMTers and mainstream economists, focusing on a recent critique of MMT by Drumetz and Pfeister. (You can hear my own interview with Jonathan in episodes 106 and 107.) (Here's a link to all six parts in this series: parts two and three with me, and parts four, five, and six with Jonathan. A list of the audio chapters in this episode can be found at the bottom of this post. For a link to every Activist #MMT interview with John, go here.) Regarding parts one to three, John and I talk about his chapter in the upcoming book called Modern Monetary Theory: Key Insights, Leading Thinkers. The book will be published by the UK-based Gower Institute for Modern Money Studies, or GIMMS; it's edited by L. Randall Wray and GIMMS; and is scheduled for January 2023 release. John is one of 15 authors. John's chapter is called "Modern Monetary Theory, the UK, and pound sterling". He was asked to write the chapter for two major reasons: First because there is not enough MMT-specific analysis on exchange rate determination, and second, to address the reality of the so-called sterling crisis in the United Kingdom. John and I don't specifically discuss the latter topic, but it is addressed in the paper. It addresses the following criticism of MMT (this is a quote from the chapter): "MMT-inspired policies will cause high rates of price inflation which will, in turn, lower the international value of a domestic currency – perhaps catastrophically." Importantly, the critique is based on the following three assumptions: The false idea that we are already, or soon will be, at full employment A fantastical theory of exchange rate determination A terrible and lazy mischaracterization of MMT John and I spend most of our time discussing the reality of these three assumptions. Surprisingly, however, the main insight I take from this conversation is a much clearer understanding of inflation in general. I'm going to describe that insight in the introduction to part two. The heart of our conversation is on the above three assumptions, but we start and end with mostly unrelated subjects. Part one begins with John describing his experience as chair of the economics department at TCU, he discusses the Russian-Ukrainian conflict only as it relates to exchange rate determination, and he also answers a question from an Activist #MMT patron, regarding his opinion of our possibility of experiencing a recession. At the end of part three, we talk about how, for most of those that most of us directly interact with, mainstream economic theory is not, in fact, a big conspiracy. We end by discussing the good and bad of math in economics. Thanks to the recommendation of a patron, with every episode of Activist #MMT as of several months ago, you can pinpoint any part of this interview by referring to the full list of audio chapters, which can be found at the bottom of the show notes. So, for example, if you wanted to skip over this introduction and go right to the beginning of the interview proper, now you can know exactly what timestamp to go to. And now, on to my conversation with John Harvey. Enjoy. Resources My previous interviews with John: Episode 43: John Harvey on John Harvey, discrimination, and aliens. Episodes 45 and 46: On inflation: mainstream versus Post Keynesian (and the MMT job guarantee) Episodes 72 and 73: The Battle of the Bulge (and the nitty gritty of Exchange Rate Determination) Books: Fred Lee's A History of Heterodox Economics (2006) Karl Polanyi's The Great Transformation (2001 edition, 1944) Naomi Klein's The Shock Doctrine (2007) Nancy Maclean's Democracy in Chains Audio chapters 6:02 - Attics, squeaky toys, dogs, and rats 8:51 - Economics chairmanship 16:21 - Being Post Keynesian chair in a mainstream department 21:04 - Patron question: Recession coming? 26:10 - Russia-Ukraine conflict 31:31 - My lawn mower runs out of gas 32:36 - Start of main questions 33:20 - Demand-pull inflation 44:39 - George Selgin 47:35 - Back to inflation 52:55 - Duplicate of introduction, but with no background music (for listeners sensitive to the opening music)

1. Introduction: Caleb O. Brown2. George Selgin and Nicholas Anthony on central banks3. Scott Lincicome and U.S. Senator Patrick Toomey of PA on trade policy4. Dr. Jeffrey Singer on harm reduction See acast.com/privacy for privacy and opt-out information.

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute. He is also the most frequent guest on Macro Musings, now appearing for his 12th time. In this episode, George and David identify and discuss their top three articles from the past few weeks related to macroeconomics and monetary policy. Specifically, George and Selgin discuss Lael Brainard's recent speech defending the Fed's prospects of issuing central bank digital currency, Janet Yellen's concession about the path that inflation has taken, the governmental accounting of Federal Reserve losses and whether they amount to a net taxpayer burden, why the Dollar remains firm as the dominant currency in global markets, how an orthodox corridor system defaults into a floor system during times of crisis, and much more.   Transcript for the episode can be found here.   George's Twitter: @GeorgeSelgin George's Cato profile   David's Twitter: @DavidBeckworth Follow us on Twitter: @Macro_Musings Click here for the latest Macro Musings episodes sent straight to your inbox!   Related Links:   *No, Fed, Unrealized Losses are Real Losses for Taxpayers* by Bill Nelson   *Preparing for the Financial System of the Future* speech by Lael Brainard at the 2022 U.S. Monetary Policy Forum   *What if the Federal Reserve Books Losses Because of its Quantitative Easing?* by Willam B. English and Donald Kohn    *From Burns to Powell*, a Macro Musings podcast episode with Guest Donald Kohn and host David Beckworth   *Treasury Secretary Concedes She Was Wrong on 'Path That Inflation Would Take'* By Kevin Liptak and Paul LeBlanc   *How Monetary Policy Got Behind The Curve And How To Get Back: A Policy Conference* Hoover Institution, Stanford University   *Jack Dorsey is Wrong. The Dollar is Still a Global Reserve Currency* by Mark Copelovitch   *A Model of Credit, Money, Interest, and Prices* by Saki Bigio and Yuliy Sannikov

George Selgin is a senior fellow and director emeritus of the the Center for Monetary and Financial Alternatives at the Cato Institute and professor emeritus of economics at the University of Georgia. His research covers a broad range of topics within the field of monetary economics, including monetary history, macroeconomic theory, and the history of monetary thought. Learn more about your ad choices. Visit megaphone.fm/adchoices

Simon Taylor and Cuy Sheffield are back this week to take a deep dive into Central Bank Digital Currencies, known as CBDCs. We have looked at them, as well as stablecoins, in a previous podcast, but as we have stated before - this space moves at the speed of sound. We want to revisit our conversation, and take a look at how they have evolved since we've last spoken about them. Simon and Cuy are joined by fantastic guests who are experts in the ever-evolving crypto space: * George Selgin, Director Emeritus, Centre for Monetary and Financial Alternatives at Cato Institute * John Lester, Cypherpunk Capitalist and VP of Operations at Oneiro This episode is sponsored by Visa. This episode is brought to you by Visa, one of the world's leaders in digital payments. Crypto has opened up a new world of possibility. And Visa is helping everyone take part. Visa enables commerce across their network and crypto networks through solutions like Fintech Fast Track, a quick and easy way for crypto innovators to issue payment credentials. Join us in this new money movement. Learn more at visa.com/crypto (https://partner.visa.com/homepage.html?utm_source=partner&utm_medium=affiliate&utm_content=sponsored-podcast_english_60min0sec&utm_campaign=us_fintech_q3-fy21-11fs-fintechinsider&utm_creative=awareness_11fs-fintech-insider). If you enjoyed the show, don't forget to subscribe and leave a review! Want to join the conversation on all the topics discussed? Tweet the show at: www.twitter.com/bchaininsider

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute and is also a long-time returning guest of Macro Musings. In this bonus segment from the previous conversation, George rejoins the podcast to talk about the Fed's near-term plans to shrink its balance sheet, the impact of the standing repo facility on demand for reserves, the potential benefits of returning to a corridor operating system, and more.     Check out Conversations with Tyler: https://conversationswithtyler.com, and subscribe to Conversations with Tyler on your favorite podcast app.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   George's Twitter: @GeorgeSelgin George's Cato Institute profile: https://www.cato.org/people/george-selgin   Related Links:   *Floored!* by George Selgin https://www.cato.org/working-paper/floored   *The Menace of Fiscal QE* by George Selgin https://www.cato.org/books/menace-fiscal-qe   *Churning at the Fed* by Milton Friedman https://miltonfriedman.hoover.org/internal/media/dispatcher/214260/full   David's Twitter: @DavidBeckworth David's blog: http://macromarketmusings.blogspot.com/

George Selgin is a senior fellow and director emeritus of the Center for Monetary and Financial Alternatives at the Cato Institute and is also a long-time returning guest of Macro Musings. He rejoins the podcast to talk about central bank digital currency, stablecoins, and the future of the Fed's balance sheet and operating system. Specifically, David and George also discuss the challenges presented by CBDC and Fed accounts, how they could create financial instability, George's proposal for wholesale CBDC, and more.   Check out Conversations with Tyler: https://conversationswithtyler.com, and subscribe to Conversations with Tyler on your favorite podcast app.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   George's Twitter: @GeorgeSelgin George's Cato Institute profile: https://www.cato.org/people/george-selgin   Related Links:   *Central Bank Digital Currency as a Potential Source of Financial Instability* by George Selgin https://www.cato.org/cato-journal/spring/summer-2021/central-bank-digital-currency-potential-source-financial-instability#old-fashioned-bank-runs   *Money and Payments: The U.S. Dollar in the Age of Digital Transformation* by the Federal Reserve Board of Governors https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf   *George Selgin on the Past, Present, and Future of a Real-Time Payments System* https://www.mercatus.org/bridge/podcasts/11112019/george-selgin-past-present-and-future-real-time-payments-system   David's Twitter: @DavidBeckworth David's blog: http://macromarketmusings.blogspot.com/

¿Quieres ver el pod en directo? Vente a Twitch Puedes ayudarme a través de Patreon:https://www.patreon.com/unpodcastsobrebitcoinEduardo Blasco es miembro de las nuevas generaciones de aprioristas extremos, según Juan Ramón Rallo. Pioneer of the New, Modern, Free Banking School, according to George Selgin.TwitterDescargo de responsabilidad: Todo lo discutido en este episodio debe ser considerado como entretenimiento solamente y jamás como consejo de inversión. Nada de lo dicho aquí tiene un propósito de asesoramiento financiero o recomendación.Recuerda que también puedes ayudarme dejando una review y compartiendo!Compra BTC en Relai (descuento de un 0.5%)Usa este enlace Enlaces tratados en el episodio:Artículos de Eduardo Blasco en el IJM: https://juandemariana.org/author/eblasco/La necesisidad de un Banco Central: https://juandemariana.org/ijm-actualidad/analisis-diario/la-necesidad-de-un-banco-central/Support the show (https://www.patreon.com/unpodcastsobrebitcoin)

Who should supply the nation with digital currency? Should the Fed do it, should the private sector do it, or should it be provided by some combination of the two? Join us on November 2 for a conversation with J. Christopher Giancarlo, former chairman of the Commodity Futures Trading Commission, and Dante Disparte, Circle's chief strategy officer and head of global policy. The event will be moderated by Cato's Center for Monetary and Financial Alternatives director emeritus George Selgin, during which Giancarlo and Disparte will discuss the merits of digital currency, both public and private. See acast.com/privacy for privacy and opt-out information.

George Selgin is the director emeritus of the Cato Institute's Center for Monetary and Financial Alternatives and is a returning guest to Macro Musings. George rejoins David on the podcast to discuss cryptocurrency, stable coins, CBDCs, and a push for a higher inflation target. Specifically, George and David discuss the category of ‘synthetic commodity money' and how bitcoin is a potential example, the current state of Bitcoin amidst El Salvador's transition to Bitcoin as its legal tender, the role of fintechs in the potential future of a Fed central bank digital currency, and much more.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   George's Twitter: @GeorgeSelgin George's Cato Institute profile: https://www.cato.org/people/george-selgin   Related Links:   *Synthetic Commodity Money* by George Selgin https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2000118   *The Denationalization of Money* by F.A. Hayek https://www.amazon.com/Denationalization-Money-Analysis-Concurrent-Currencies/dp/0255360878   David's blog: macromarketmusings.blogspot.com David's Twitter: @DavidBeckworth

China's prohibition on crypto transactions shouldn't tell U.S. regulators to follow suit. George Selgin discusses U.S. regulators' concerns over stablecoins. See acast.com/privacy for privacy and opt-out information.

Nic and Matt return for another week of news and deals. In this episode:  Latest on the infrastructure bill The latest on the platinum coin Zany things that financial regulators said this week Gensler continues to misrepresent the free banking era How bad was the wildcat banking era really? Why are financial regulators so interested in free banking? The SEC and CFTC are nearing the end of their fiscal year The prospects for 'pipe to crypto' Why miners are participating in 'demand response' programs Matt's 20-year-old cereal Twitter adds lightning tips and NFT authentication Binance is under CFTC investigation Biden's new OCC nominee is anti-bank, anti-crypto FASB takes comment on GAAP treatment of digital assets Content mentioned:  George Selgin on antebellum Free Banking Sponsor notes:  This show supported by Coinbase Prime, an integrated solution that provides advanced multi-venue trading, custody, and prime services for institutions. For more information see coinbase.com/prime This episode is brought to you by Withum, a top 25 accounting firm with a cutting-edge Digital Currency and Blockchain Technology practice. To learn more, visit  withum.com/crypto.

Starting today, bitcoin is an official national currency in El Salvador, along with U.S. dollars. To use the cryptocurrency, Salvadorans need to download an electronic wallet. If they use the government-sanctioned wallet, they’ll get $30 worth of bitcoin to use. Stores have to accept bitcoin, provided they have internet access and can do so. They’ll still take American dollars. In the past six months, the value of a bitcoin has fluctuated by as much as $30,000, so how it’ll go is anyone’s guess. Marketplace’s Jed Kim speaks with George Selgin, who directs the Center for Monetary and Financial Alternatives at the Cato Institute.

Stablecoins are suddenly all over the news, with their explosive growth posing all sorts of questions for investors and regulators alike. This episode is sponsored by Unique One Network, Mimo and Quantstamp.To discuss, co-hosts Michael Casey and Sheila Warren are joined this week by Caitlin Long, founder and CEO of Avanti, a Wyoming-based digital assets bank, and George Selgin, director of the Center for Monetary and Financial Alternatives at the Cato Institute.We start with a striking fact: the supply of the top 10 stablecoins pegged one-to-one with the U.S. dollar is up fourfold from the beginning of the year, at $109 billion. That's more than three times the combined value of PayPal and Venmo's outstanding customer accounts at the end of last quarter. This spectacular growth is encouraging stablecoin issuers to play it big. Circle, the issuer of the highly successful dollar-pegged token USDC, is going public via a merger with a special purpose acquisition company. Tether, the controversial issuer of USDT, has settled a lawsuit with the New York attorney general's office and is providing regular updates on its token's reserve backing. It is also now branching out into other markets, including a euro-backed stablecoin. And Paxos is expanding a digital asset servicing agreement with PayPal that's sure to bring opportunities for PAX and Binance's BUSD, the two stablecoins it manages, to play a back-end role in a growing market of consumer crypto transactions. Regulators are getting nervous. Federal Reserve officials are worrying about potential systemic risk from economy-wide exposure to de facto dollar substitutes that may not be sufficiently backed by reserves to stand up the value investors expect them to hold. And anti-money laundering enforcement agents are worried that these tokens will facilitate illicit transactions among criminals. So, with U.S. Treasury Secretary Janet Yellen convening a high-powered meeting of the most important financial regulators this week to discuss the topic, it seemed like an opportune time to dive into the outlook for stablecoins and the evolving regulatory framework.Will regulators strike the right balance by using smart disclosure and management rules to give customers and investors confidence to use stablecoins? Or will they adopt a draconian, restrictive posture that kills off the sector's huge innovation potential? Long and Selgin are ideally placed to discuss these issues. Both are steeped in crypto knowledge, the structure of the banking system and regulation. Long's company, Avanti, is issuing its own digital dollar token, the Avit, for which it is seeking support from the Federal Reserve. Selgin, a monetary historian, is finding that his expertise in the United States' free-banking era of the 19th century is proving especially relevant to the outlook for stablecoins in the 21st century.-Unique One Network is an interoperable Platform for DeFi enabled NFT Marketplaces, in a variety of sectors, built on Polkadot Parity Substrate. Unique One Network's cross chain NFT hub facilitates transfers between a variety of blockchains and ecosystems, unleashing the power of NFTs with myriad innovative capabilities. Find out more at Unique One Network.-Mimo is home of the world's #1 euro-algorithmically pegged token minted at an interest rate of just 2%. Lock in your crypto assets, access their liquidity, and stabilize your portfolio by hedging against inflating coins. Open a Vault and experience the power of Mimo today at mimo.capital.-Quantstamp is the leader of blockchain security, having secured over 100 billion USD worth of digital assets. Visit quantstamp.com to learn why top DeFi projects like Maker, Compound and BarnBridge trust Quantstamp to secure the financial infrastructure of tomorrow. Learn more at quantstamp.com/blog.-Image credit: Panuwat Sikham/iStock/Getty Images Plus, modified by CoindeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The government El Salvador has adopted Bitcoin as its currency, but that has problems. What does that mean for average people, and how could they have done it better? George Selgin offers a few ideas. See acast.com/privacy for privacy and opt-out information.

The Emergent Order Podcast Macroeconomics Roundtable, with George Selgin, James McClure, Steve Horwitz, Lars Christensen, and Scott Sumner On today's episode of the podcast, John Papola welcomes George Selgin, James McClure, Steve Horwitz, Lars Christensen, and Scott Sumner for a long and winding macroeconomics roundtable discussion. More from our guests: George Selgin CATO Institute Bio Twitter Wikipedia James McClure Econ Journal Watch ResearchGate Steve Horwitz Home Page Facebook Learn Liberty Ball State Magazine Wikipedia Lars Christensen Twitter Facebook The Market Monetarist Geopolitical Intelligence Services Scott Sumner The Library of Economics and Liberty Mercatus Center TheMoneyIllusion Independent Institute Wikipedia Business Insider

If the Fed brought home a report card reflecting its performance since its creation in 1914, its parents would not be pleased. Its record for stability is among the worst in the developed world, and it has done little to fix the problems it was invented to address. Moreover, the Federal Reserve is far from the only way to assure stability in banking. As George Selgin of the Cato Institute and Norbert Michel of the Heritage Foundation persuasive argue on the Bill Walton Show, it may not even be the best way. More provocative views on the Fed from George and Norbert: How the Fed contributed to, then botched its response to, the 2008 recession. Forget the idea that it was only about “greedy bankers.” If you want to learn what really happened, their explanation is lucid. Why an “independent” Fed has never been a reality and probably should not be the goal. We need our money to be politically accountable, but how to do this is a thorny issue. If America could print all the money we needed, we would never have financial problems, right? That's Modern Economic Theory in a nutshell, and George and Norbert explain why this very seductive idea is such a dangerous one. George and Nobert explain “quantitative easing” to me and how it's painted the Fed into a corner. I sort of get it. See what you think, here on the Bill Walton Show.