
The Profits of Economic Shock- Case Studies
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The Role of Banks in Economic Growth and Monetary Systems
This chapter explores the significance of banks in financing economic activity for growth, the limitations of using gold as a monetary anchor, and the flexibility of community banks. It also delves into historical monetary systems like the split tally and their relation to modern currencies, while cautioning against the consolidation of financial systems by central planners and the introduction of central bank digital currencies.
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