George Selgin Bücher

The book explores the Federal Reserve's challenges in maintaining its independence amid a backdrop of persistently low and declining interest rates. It delves into the complex dynamics that threaten its ability to operate autonomously, highlighting the institution's struggle to adapt to evolving economic conditions while safeguarding its crucial role in the financial system.

This book shows how a system of private banks without a central bank can bring about financial stability through self-regulation. If one bank stretches credit too far, it will be reined in by the others before the system as a whole gets out of control.