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Paperback Financial Stability Without Central Banks Book
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ISBN: 025536752X

ISBN13: 9780255367523

Financial Stability Without Central Banks

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George Selgin is one of the world's foremost monetary historians. In this book, based on the 2016 Hayek Memorial Lecture, he 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. The banks have a strong incentive to ensure an orderly resolution if a particular bank...

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