Comparing Free Banking and Stable Coins

Larry White is a professor of economics at George Mason University and is a returning guest to the show. He rejoins Macro Musings to talk about stablecoins, the history of free banking, and money market funds reform. Specifically, David and Larry also discuss the critiques levied against stablecoins, their impact on the banking system, and why stablecoins could be considered the new version of money market mutual funds.

Transcript for the episode can be found here.

Larry’s Twitter: @lawrencewhite1

Larry’s GMU profile: https://economics.gmu.edu/people/lwhite11

Larry’s Alt-M profile: https://www.alt-m.org/author/white/

Related Links:

*Should We Fear Stablecoins?* by Larry White

https://www.alt-m.org/2021/06/24/should-we-fear-stablecoins/

*Taming Wildcat Stablecoins* by Gary Gorton and Jeffery Zhang

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3888752

*Overview of the Recent Events and Potential Reform Options for Money Market Funds* by the President’s Working Group on Financial Markets

https://home.treasury.gov/system/files/136/PWG-MMF-report-final-Dec-2020.pdf

Larry White on India’s Demonetization and Austrian Macroeconomics: https://macromusings.libsyn.com/47-larry-white-on-indias-demonetization-and-austrian-macroeconomics

David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth