Chapter 5: Nineteenth Century Financial Crises
Chapter 5: Nineteenth Century Financial Crises examines the problems of nineteenth century banking, and explains how a banking system works. This chapter presents the kind of explanation of monetary expansion that can be found in most any economic principles or money and banking textbook, but with a difference. Instead of focusing on how banks create money, the focus is on how banks created debt and on how this debt creation mechanism leads to economic instability in an unregulated financial system.
See: Where Did All the Money Go? How Lower Taxes, Less Government, and Deregulation Redistribute Income and Create Economic Instability (2014) at Amazon.com. Click here for a preview.
