Central banking politicizes the money supply, creating circumstances where competing interest groups (such as debtors who benefit from inflation) lobby for inflation or deflation; once money is politicized it becomes harder to return to a neutral system because beneficiaries resist losing their favors.

causalpending

Speaker

George Selgin

Evidence Quote

central banking politicizes the money supply... competing interest groups lobby for inflation or deflation

Source

George Selgin on Free Banking 11/17/2008EconTalk
Created: 6/15/2026, 9:20:23 AM

My Notes

Loading notes...