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Picture of New York’s Bank: Wall Street’s Role in the Founding of the Fed (MP3 Download)

New York’s Bank: Wall Street’s Role in the Founding of the Fed (MP3 Download)

By George Selgin

 

Most accounts of the Fed’s origins treat it as having been the best option for preventing financial crises. But there was a better one: removing misguided regulations that were the root cause of instability. Unfortunately, Wall Street’s most powerful banks benefitted from those same regulations. It was owing to their success at hijacking the currency reform movement that we ended up with the Fed—and with more severe financial crises than ever before!

This talk was recorded at the Objectivist Summer Conference 2016 in Seattle, WA.

(MP3 download; 56.20 MB)