A Century of Failure: Why It's Time to Consider Replacing the Fed | George Selgin

Presented by George Selgin at the Mises Circle at Furman University: "The Coming Currency Crisis and the Downfall of the Dollar," 13 November 2010.

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  News & Politics

[slhines7]

This video was worth every single second of watching. Thanks for posting such an educational and enlightening post!

[Julien Couvreur]

Selgin addresses questions about the Fed by looking at relevant historical statistics, and shows that it failed on each count.

Did it reduce unemployment?

Did it stabilize prices and value of money?

Did it kept prices more predictable?

Did it avoid dangerous deflations and/or controlled inflation?

Was GNP volatility reduced?

Has the frequency and length of recessions has improved under the Fed?

He points out other factors which cause his analysis to underestimate how bad the Fed performed.

[Hochi Mincity]

haha Dr.Selgin is currently my monetary economics professor at UGA

[driver8m3]

how about you try to refute selgin on the facts instead of resorting to name calling. tell me how the value of the dollar has really improved since 1913. who am i going to believe, you or my own eyes?

[LET hetero]

austrians, so ... retarded, can't find another word

[thegbpackers284]

Thank you Mr. Selgin!!!! Thank you internet! Please share this with everyone you know. Even if they are not interested now. Sooner or later everyone with some critical thinking skills will realize the system is seriously flawed. Help awaken those who are still counting sheep.

[misterpist]

Thank you Internet. Communication, education and fact easier to pursue than ever before! This is a great thing. Toto is multiplying.

[khakuda]

This is outstanding. The sad fact that only 9500 people have viewed this shows how ignorant the population is with regard to the enormous currency debasement by the Fed.

[laettis]

More and more economist should step forward and tell it as it really is. Most people have no idea what is going on behind the curtains and trust almost everything what the MSM is feeding them. Though, even though the number is small, I am glad that this is about to change and that more and more people are actually awakening. Very nice lecture! Thumbs up!

[EconomicLiteracyNow]

Thomas Sowell, when asked what he would replace the Fed with, replied, "If you remove a cancer, what do you replace it with?"