July 03, 2009
Can the Monetary System Regulate Itself?

Our current system, no, but a free banking system on a gold standard, yes. So I argue in this 51-minute talk, taped at Rhodes College in March. Not just a talking head video, this one features some actual walking around! Thanks to co-blogger Art Carden for organizing the event and posting the video.

Posted by Lawrence H. White at 08:19 PM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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