George Selgin – författare

CHOSEN AS ONE OF THE WALL STREET JOURNAL’S 10 BEST BOOKS OF 2025A definitive history of the United States’ recovery from the Great Depression—and the New Deal's true part in it.FDR’s New Deal has long enjoyed a special place in American history and policy—both because it redefined the government’s fundamental responsibilities and because Roosevelt’s “bold experimentation” represented a type of policymaking many would like to see repeated.But “the thing about bold experiments,” economist George Selgin reminds us, “is that they often fail.” In False Dawn Selgin draws on both contemporary sources and numerous studies by economic historians to show that, although steps taken during the Roosevelt administration’s first days raised hopes of a speedy recovery from the Great Depression, instead of fulfilling those hopes, subsequent New Deal policies proved so counterproductive that over seventeen percent of American workers—more than the peak unemployment rate during the COVID-19 crisis—were still either unemployed or on work relief six years later.By distinguishing the New Deal’s successes from its failures, and explaining how the U.S. finally managed to lay the specter of mass unemployment to rest, Selgin draws salient lessons for dealing with future recessions.

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 is facing insolvency or illiquidity. Selgin draws on evidence from the era of 'free banking' in Scotland and Canada. These arrangements enjoyed greater financial stability, with fewer banking crises, than the English system with its central bank and the US model with its faulty government regulation. The creation of the Federal Reserve appears to have increased the frequency of financial crises. The book also includes commentaries by Kevin Dowd and Mathieu Bedard. Dowd asks whether free-banking systems should be underpinned by a gold standard,which he regards as a tried-and-tested institution at the heart of their success. Bedard challenges the assumption that the banking sector is inherently unstable and therefore requires state intervention. He argues that increases in government control have made the banking system more prone to crisis.

Can the 'invisible hand' handle money? George Selgin challenges the view that government regulation creates monetary order and stability, and instead shows it to be the main source of monetary crisis.The volume is divided into three sections:* Part I refutes conventional wisdom holding that any monetary system lacking government regulation is 'inherently unstable', and looks at the workings of market forces in an otherwise unregulated banking system.* Part II draws on both theory and historical experience to show how various kinds of government interference undermine the inherent efficiency, safety, and stability of a free monetary system.* Part III completes the argument by addressing the popular misconception that a monetary system is unsound unless it delivers a stable output price-level.

Can the 'invisible hand' handle money? George Selgin challenges the view that government regulation creates monetary order and stability, and instead shows it to be the main source of monetary crisis.The volume is divided into three sections:* Part I refutes conventional wisdom holding that any monetary system lacking government regulation is 'inherently unstable', and looks at the workings of market forces in an otherwise unregulated banking system.* Part II draws on both theory and historical experience to show how various kinds of government interference undermine the inherent efficiency, safety, and stability of a free monetary system.* Part III completes the argument by addressing the popular misconception that a monetary system is unsound unless it delivers a stable output price-level.

This book sets out to explain the complexity of why increased production does not that always bring with it lower prices. According to the book, those who look upon monetary expansion as a way to eradicate almost all unemployment fail to appreciate that persistent unemployment is a non-monetary or 'natural' economic condition, which no mount of monetary medicine can cure. Selgin explores the differences between these monetary and natural conditions, and proposes solutions of his own.

This book looks at private enterprise and the foundation of modern coinage."Good Money" tells the fascinating story of British manufacturers' challenge to the Crown's monopoly on coinage. In the 1780s, when the Industrial Revolution was gathering momentum, the Royal Mint failed to produce enough small-denomination coinage for factory owners to pay their workers. As the currency shortage threatened to derail industrial progress, manufacturers began to mint custom-made coins, called 'tradesman's tokens'. Rapidly gaining wide acceptance, these tokens served as the nation's most popular currency for wages and retail sales until 1821, when the Crown outlawed all moneys except its own.Historian George Selgin presents a lively tale of enterprising manufacturers, technological innovations, and struggles over the right to coin legal money.