Lawrence H. White on Monetary Constitutions

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4.7 • 4.4K Ratings

🗓️ 9 March 2015

⏱️ 78 minutes

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Summary

Lawrence H. White of George Mason University talks with EconTalk host Russ Roberts about the possibility of a monetary constitution. Based on a new book, Renewing the Search for a Monetary Constitution, White explores different constitutional constraints that might be put on the government's role in money and monetary policy. Topics discussed include cryptocurrencies, the gold standard, the Taylor Rule, the performance of the Fed, free banking, and private currency.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:06.4	I'm your host Russ Roberts of Stanford University's Hoover Institution.
0:11.0	Our website is econtalk.org where you can subscribe, comment on this podcast, and find
0:16.0	links and other information related to today's conversation.
0:19.0	You'll also find our archives where you can listen to every episode we've ever done going
0:23.2	back to 2006.
0:25.4	Our email address is mailadycontalk.org.
0:27.4	We'd love to hear from you.
0:32.0	Today is February 25th, 2015, and my guest is Larry White of George Mason University
0:38.6	and a senior fellow at the Cato Institute.
0:41.5	Our topic today is whether we should have a monetary constitution, a set of rules governing
0:47.1	government's role in supplying money, along with what those rules might be.
0:51.8	We're recording this episode in front of a live audience at the Cato Institute in honor
0:56.1	of a new book that Larry is co-added with Victor Vanberg and Eckhart Kohler renewing
1:00.5	the search for a monetary constitution.
1:03.1	Larry, welcome back to Econ Talk.
1:05.7	Thanks, Russ.
1:06.7	Good to be here.
1:07.7	Now, this book is a result of a symposium organized by Liberty Fund, an honor of a book
1:12.4	written 50 years ago in search of a monetary constitution which was edited by Leel and
1:16.8	Yeager.
1:17.8	So a lot of what we're going to be talking about today is what we've learned in the last
	...

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