Book notes: Money and the rule of law, by Peter Boettke, Alexander Salter and Daniel Smith
A largely US-focused book, which hankers for more robust rules for central banks but isn’t explicit as to what kind
Peter Boettke, Alexander Salter and Daniel Smith, Money and the rule of law: generality and predictability in monetary institutions, Cambridge University Press, 2021, 193 pages
Discretionary central banking with a focus on macroeconomic stabilisation is still a relatively recent (20th century) phenomenon. It often seems to promise much but there has rarely been a time when the place of monetary policy, and the institutions responsible for it, has been uncontested.
It is perhaps salutary that
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