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Why Rothbard Thought the Fed Eliminated Market Safeguards Against Bank Inflation

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Manage episode 501828110 series 3252383
Content provided by Mises Institute. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mises Institute or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
In his underappreciated work The Mystery of Banking, Murray Rothbard first explained how a regime of "free banking" would put strict limits on the ability of the private commercial banks to reduce their reserve ratios and inflate the money supply. Then Rothbard showed that the textbook operation of a central bank systematically neutralized the market's safeguards, and paved the way for credit expansion by a cartel of privileged private banks. The Mystery of Banking by Murray N. Rothbard: https://mises.org/HAP514a "How Private Banks Can Create Money, But Not Like the Fed Can" (Human Action Podcast): https://mises.org/HAP514b The Mises Institute is giving away 100,000 copies of Hayek for the 21st Century Get your free copy at https://Mises.org/HAPodFree
  continue reading

6167 episodes

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iconShare
 
Manage episode 501828110 series 3252383
Content provided by Mises Institute. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mises Institute or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
In his underappreciated work The Mystery of Banking, Murray Rothbard first explained how a regime of "free banking" would put strict limits on the ability of the private commercial banks to reduce their reserve ratios and inflate the money supply. Then Rothbard showed that the textbook operation of a central bank systematically neutralized the market's safeguards, and paved the way for credit expansion by a cartel of privileged private banks. The Mystery of Banking by Murray N. Rothbard: https://mises.org/HAP514a "How Private Banks Can Create Money, But Not Like the Fed Can" (Human Action Podcast): https://mises.org/HAP514b The Mises Institute is giving away 100,000 copies of Hayek for the 21st Century Get your free copy at https://Mises.org/HAPodFree
  continue reading

6167 episodes

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