The Fed’s Institutional Design

by Gerald P. O’Driscoll, Jr.[1]

I have been reading Central Bank Governance & Oversight Reform, edited by John H. Cochrane and John B. Taylor. It is a conference volume of unusually high quality with all the discussions of presentations included.

I plan to write more about the book later, but to highlight one chapter here. It goes beyond the usual topics, covered well in the book, on rules versus discretion, credible commitments, policy legislation, and the historical record.

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Great New Blog

by Bill Butos

Friends of ours, including Richard Ebeling, Steve Horwitz, Gerry O’Driscoll, George Selgin, and Larry White, and others, are contributors to a new blog on “Free Banking”.

Quoting its credo, 

“The Free Banking blog is a venue for leading free banking advocates to share their insights with the world. This illustrious cast includes academics, public policy experts, government officials, and rabble rousers. Guest bloggers will feature financial gurus, entrepreneurs, historians, celebrities, and many other different perspectives.
We hope that making these ideas and conversations more accessible will help educate the lay public, amateur economists, and influential intellectuals. Most importantly we aspire to promote and facilitate the transition to free banking in both developed and developing countries.”