Autoplay Next video from Max length

The Destabilizing Consequences of Central Banking (OCON 2015)

2,305 views · Published 1 December 2016 · 1:13:15 · Indexed 29 October 2026

Channel: Ayn Rand Institute · 2016 · Nonprofits & Activism

This talk explores the fiscal origins of currency monopolies and the adverse consequences stemming from their establishment, including their tendency to promote booms and busts; reviews the origins of the doctrine that they should serve as "lenders of last resort"; and explains why last-resort lending tends in practice to generate moral hazard problems that lead to still greater financial instability. Some time is devoted to the special case of the U.S. Federal Reserve System.

The speaker is George Selgin, director of the Center for Monetary and Financial Alternatives at the Cato Institute and professor emeritus of economics at the University of Georgia.

SUBSCRIBE TO ARI’S YOUTUBE CHANNEL
https://www.youtube.com/subscription_center?add_user=AynRandInstitute

ABOUT THE AYN RAND INSTITUTE
ARI offers educational experiences, based on Ayn Rand's books and ideas, to a variety of audiences, including students, educators, policymakers and lifelong learners. ARI also engages in research and advocacy efforts, applying Rand's ideas to current issues and seeking to promote her philosophical principles of reason, rational self-interest and laissez-faire capitalism. We invite you to explore how Ayn Rand viewed the world — and to consider the distinctive insights offered by ARI's experts today.

EXPLORE ARI
http://www.AynRand.org

FOLLOW ARI ON TWITTER
https://twitter.com/AynRandInst

LIKE ARI ON FACEBOOK
https://www.facebook.com/AynRandInstitute

EXPLORE ARI CAMPUS
https://campus.aynrand.org/

INFORMATION ABOUT OBJECTIVIST SUMMER CONFERENCES
http://objectivistconferences.com/

The Destabilizing Consequences of Central Banking (OCON 2015)

More from this channel