George Selgin
@GeorgeSelgin
Money and banking fallacy demolition expert. I promise not to waste our time by saying things you expect me to say.
Whoopee! I get to talk to Tyler about how the US recovered from the Great Depression, and how the New Deal influenced that recovery. Come and listen! cato.org/events/false-d…
I inadvertently quote tweeted an account impersonating @lawrencehwhite1 (note fake’s misspelling of “white”). I’ve now reported it; if others will do so it may help to get the creep cancelled.
If folks want a jump start on examining the entire Federal Reserve as an institution and assessing whether it has been a success, this paper by @GeorgeSelgin, @lawrencehwhite1, and Bill Lastrapes is a great place to start. sciencedirect.com/science/articl…
.@SecScottBessent: "What we need to do is examine the entire Federal Reserve institution and whether they have been successful... All of these Ph.D.s over there, I don't know what they do... This is like Universal Basic Income for academic economists."
The tragic irony of the present situation is that, the more aggressively and publicly a president’s efforts to pressure a Fed chair to lower rates, the more obliged he must feel to resist cutting them even if conditions call for it, thus making a public display Fed independence.
Read the column to see how Trump could gain control of entire FOMC.
I smell mendacity! I didn’t say that we have fractional reserve banking so long as “reserves play a role in interbank settlement.” I said that we have it so long as banks’ reserves are < 100% of their demand liabilities. And I was perfectly clear about it: x.com/georgeselgin/s…
x.com/i/article/1946…
For readers who wonder, here’s my “provocative” reply to Bob, for stating and defending which I was ridiculed, insulted, and eventually threatened with assault! x.com/georgeselgin/s…
with this single tweet 5 days ago i did the equivalent of arming the mujahideen to bog down the soviets (tl;dr: rothbardian enemies selgin and keen have been at war this whole time--and i started it)
If anything, I have an even lower view of Dodd-Frank today than when I offered this testimony-> The Dodd-Frank Act Five Years Later: Are We More Stable? | Cato Institute cato.org/testimony/dodd…
Anything _true_ in a Jacobin article is news.
Lots of falsehoods in this Jacobin article, including the claims that “wages have stagnated” and “upward mobility has collapsed”
Blame me: cato.org/briefing-paper…
Among the many ironies, stablecoins are narrow banking.
I had a nice long conversation with Bilal Hafeez on… everything! m.youtube.com/watch?v=IRgKux…