The Historical Performance of the Federal Reserve
by Michael D. Bordo · first published 2019
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"Michael D. Bordo argues for the importance of monetary stability and monetary rules, offering theoretical, empirical, and historical perspectives to support his case. He shows how the pursuit of stable monetary policy guided by central banks following rule-like behavior produces low and stable inflation, stable real performance, and encourages financial stability. In contrast, he explains how the failure to adhere to rules that produce monetary stability will inevitably produce the dire consequences of real, nominal, and financial instability. Bordo examines theoretical perspectives ranging f
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…wasting your time with Ron Paul's book. Now, I'm not defending the Fed, but his arguments aren't much more than invective, polemic, and empty, idealistic rhetoric. You might be better off reading: The Historical Performance of the Federal Reserve: The Importance of Rules. Mankiw's textbook on economics has a nice explanation as well.
on “Ask HN: “government is printing money” - what does it mean in practice?” ↗> The Historical Performance of the Federal Reserve: Um. Close to 650 pages?!! Not saying it's not worth it. But Paul's book is a much easier start. If you want someone to run an ultra-marathon, first start with getting them to finish a 5k. https://www.amazon.com/Historical-Performance-Federal-Reserv...
on “Ask HN: “government is printing money” - what does it mean in practice?” ↗