George Selgin, Discover and Read the Best of Twitter Threads by @GeorgeSelgin

George Selgin

GeorgeSelgin

Thread: I don't think I've been at all coy when it comes explaining why I doubt that Bitcoin will ever become a generally-accepted and widely-used medium for everyday payments, that

In _Denationalisation of Money_, Hayek supposed that competing private fiat-like monies would vie for market share by demonstrating their stable purchasing power. But, as I observed many years ago, Hayek

Thread: I have great respect for @dandolfa. But I think that here he, like many other proponents of CBDC, too readily assumes that it can be viewed as a "public

The notion that currency or money was always and is today merely a "record keeping device" is highly misleading. Cash transactions are quid-pro-quo exchanges even now, and as such must

Thread: In the paper he presented @BrookingsEcon back in August, the Bank of England's Andrew Bailey perpetuates myths about the role regulations play in achieving a uniform nationwide currency: https://www.bankofengland.co.uk/-/media/b

.@NathanTankus poses a challenge. My perhaps naive reply is that the Fed is not "our central macroeconomic administrative agency." 1/https://twitter.com/Frank_vanlerven/status/1300811220426125313 The Fed's responsibilities are

Like many, @JFrankelEcon here treats the 1873-96 deflation under the gold standard as a serious defect. But numerous studies suggest that that period's downward price trend (an average annual rate

Thread: "What I always find puzzling when we talk about this is, why, given that history, people now believe that the payments system is a government service.” Badly-needed perspective on

Thread: Reacting to the perception "that the Main Street program’s modest initial activity is evidence of failure," Boston Fed Bank President Eric Rosengren says, "I completely disagree." file:///C:/Users/User/AppData/

OK, my first thread on misconceptions about the history of bank-issued paper currency, motivated by claims that history shows that the private market can't be entrusted with supplying currency of

I hate to criticize my friend @PeterContiBrown; I'm also not one to dare to disagree with any lawyer! But I must say I'm surprised by two claims he makes in

Short thread: The challenges these government-sponsored emergency loan programs must meet are daunting.https://twitter.com/GeorgeSelgin/status/1245691356829417472 For administrative reasons, and perhaps also to lever taxpayers' contribution, it m