George Selgin is Director of the Cato Institute’s Center for Monetary and Financial Alternatives. He is an adherent to the Free Banking School. See his recent article “L Street: Bagehotian Prescriptions for a 21st Century Money Market” in which he critiques the top-heavy banking system in which a few, systemically important banks controls the liquidity of the entire financial system. Many consider Selgin to be the highest expert on deflation, which is now affecting Europe and, given recent trends, may soon visit these shores.
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