Economist Discusses the Fed's 'Century of Failure'
An economist and author who writes about topics related to free banking and deflation will discuss the failures of the Federal Reserve System in a talk at Alma College.
George Selgin, professor of economics at the University of Georgia, presents “A Century of Failure: Why it’s Time to Consider Replacing the Fed” at 7:30 p.m. Thursday, Nov. 3 in the Dunning Memorial Chapel. Admission is free and open to the public.
“The title suggests that it will be a provocative talk,” says Feler Bose, assistant professor of economics at Alma College. “He will talk about central banking and how the Federal Reserve has failed—that rather than creating stability, the Fed has created yet more instability. He may propose an alternative system or bring up issues to consider.”
The Federal Reserve System, or Fed, is the central banking system of the United States. Established in 1913, its mission is to create full employment, encourage price stability, prevent bank panics, and stabilize business cycles, says Bose.
“Since the Fed came into existence the dollar has lost 95 percent of its value, and economic recoveries are slower than they were before it was established," says Bose.
Selgin has written five books on economics, mostly on free banking and monetary deregulation, edited two others, and has articles, notes and comments in more than 50 academic journals. He has received numerous awards, grants and honors and is best known for his research in free banking, says Bose.
“His ideas will be thought provoking and challenging, especially for those interested in history, business, economics and political science," says Bose.
Posted: Tue, October 25th, 2011 at 9:47AM