The Evolution of Central Banks

By Charles Goodhart,

Book cover of The Evolution of Central Banks

Book description

The Evolution of Central Banks employs a wide range of historical evidence and reassesses current monetary analysis to argue that the development of non-profit-maximizing and noncompetitive central banks to supervise and regulate the commercial banking system fulfils a necessary and natural function. Goodhart surveys the case for free banking, examines…

Shepherd is reader supported. When you buy books, we may earn an affiliate commission.

Why read it?

1 author picked The Evolution of Central Banks as one of their favorite books. Why do they recommend it?

Goodhart, a former head economist of the Bank of England, builds upon Bagehot to describe how modern central banks evolved to insure the private bank system.

Goodhart argues that regulations over private banks were unnecessary and that the shadow bank system (that had evolved since the Vietnam War era inflation drove banks away from the Federal Deposit Insurance Corporation in the US) would never go bankrupt. He argues that the investment banks always had sufficient reserves, so that increased regulation was undesirable.

The Crash of 2008 proved Goodhart wrong. Yet ironically, it is the exact same set of arguments that…

From Max's list on Walter Bagehot’s challenge.

Want books like The Evolution of Central Banks?

Our community of 10,000+ authors has personally recommended 100 books like The Evolution of Central Banks.

Browse books like The Evolution of Central Banks

5 book lists we think you will like!

Interested in the Vietnam War, presidential biography, and Vietnam?

10,000+ authors have recommended their favorite books and what they love about them. Browse their picks for the best books about the Vietnam War, presidential biography, and Vietnam.

The Vietnam War Explore 232 books about the Vietnam War
Presidential Biography Explore 19 books about presidential biography
Vietnam Explore 155 books about Vietnam