TOPICS COVERED

1. Money — functions & forms — metal, paper, plastic and bits — market-based versus fiat-based

2. Banking — financial intermediation — types; depository, commercial, investment — free banking versus central banking

3. Public Finance — funding of government spending — taxing, borrowing and money-creation — deficits, debts and unfunded entitlements — fiscal rectitude versus fiscal profligacy

READINGS

Selgin, George, and Lawrence White. 1987. “The Evolution of a Free Banking System.” Economic Inquiry. Volume 25, Issue 3, pages 439–457.

The Importance of the Dollar as World Currency (Podcast with Barry Eichengreen) (http://www.econtalk.org/archives/2011…)

Surowiecki, James, “A Brief History of Money,” (http://spectrum.ieee.org/at-work/inno…)