Explaining Money & Banking

The book made huge theoretical advances. He was the first to prove that the government, and only the government, can destroy money on a mass scale, and he showed exactly how they go about this dirty deed. But just as importantly, it is beautifully written. He tells a thrilling story because he loves the subject so much.

Despite the political potency of money and banking issues, historians have largely dismissed the Progressive Era political debate over banking as irrelevant and have been preoccupied with explaining the shortcomings,