Where did this thing called the Fed come from? Murray Rothbard has the answer here — in phenomenal detail that will make your head spin. In one extended essay, one that reads like a detective story, he has put together the most comprehensive and fascinating account based on a century's accumulation of scholarship. The conclusion is that the Fed did not originate as a policy response to national need. It wasn't erected for any of its stated purposes. It was founded by two groups of elites: government officials and large financial and banking interests. Rothbard adds a third critical element: economists hired to give the scheme a scientific patina. This excerpted chapter from Rothbard's History of Money and Banking is as scholarly as it is hair raising. This is one
Topics:
Murray N. Rothbard considers the following as important: 6b) Mises.org, Featured, newsletter
This could be interesting, too:
Michael Njoku writes Totalitarianism Begins With A Denial of Economics
Nachrichten Ticker - www.finanzen.ch writes US-Wahl treibt Bitcoin über 90’000 US-Dollar – wie Anleger vom neuen Krypto-Hype profitieren können
Jim Fedako writes Subjectivity and Demonstrated Preference: A Possible Paradox
Connor O'Keeffe writes The Context Behind Donald Trump’s “Takeover” of the American Right
Where did this thing called the Fed come from? Murray Rothbard has the answer here — in phenomenal detail that will make your head spin. In one extended essay, one that reads like a detective story, he has put together the most comprehensive and fascinating account based on a century's accumulation of scholarship.
The conclusion is that the Fed did not originate as a policy response to national need. It wasn't erected for any of its stated purposes. It was founded by two groups of elites: government officials and large financial and banking interests. Rothbard adds a third critical element: economists hired to give the scheme a scientific patina.
This excerpted chapter from Rothbard's History of Money and Banking is as scholarly as it is hair raising. This is one economic historian who fears not naming names and assigning blame.
Tags: Featured,newsletter