Money and the Rule of Law: Generality and Predictability in Monetary Institutions

by Peter J. Boettke, Daniel J. Smith, Alexander William Salter

Book Overview

Contemporary monetary institutions are flawed at a foundational level. The reigning paradigm in monetary policy holds up constrained discretion as the preferred operating framework for central banks. But no matter how smart or well-intentioned are central bankers, discretionary policy contains information and incentive problems that make macroeconomic stability systematically unlikely. Furthermore, central bank discretion implicitly violates the basic...

• Format: Paperback
• Language: English
• ISBN: 1108790844
• ISBN13: 9781108790840
• Release Date: June 2021
• Publisher: Cambridge University Press
• Length: 256 Pages
• Weight: 0.55 lbs.
• Dimensions: 0.5" x 6.0" x 9.0"