George Selgin

George Selgin, an economist and monetary policy expert, dives into the complexities surrounding the New Deal and its actual impact on the Great Depression. He reveals the surprising lack of effective fiscal stimulus and critiques Roosevelt’s gold revaluation strategy. Selgin discusses the profound effects of regime uncertainty and how missteps in policy led to the 1937-38 recession. With a humorous twist, he also shares anecdotes about his life in Spain, including a fractional-reserve donkey ownership scheme that highlights his whimsical yet insightful approach to economics.

In this discussion, economist George Selgin, author of *Good Money*, shares his insights on the historical landscape of money during the Industrial Revolution. He explores the Royal Mint's failures in producing small denominations, which led to shortages and rampant counterfeiting. Selgin explains how private tokens emerged to fill monetary gaps and details the innovative practices of Birmingham's button makers. He also touches on the storied Soho Mint and its contribution to modern coinage, unpacking the complex interplay between government policies and private enterprise.

George Selgin, professor emeritus at the University of Georgia and author of False Dawn, dives into the New Deal's implications on economic recovery. He critiques FDR's policies, arguing they hampered recovery rather than helped. Selgin highlights how the 1933 gold revaluation initially sparked a boom but quickly faded. He muses on missed monetary opportunities and the complexities of banking regulations. Adding a personal touch, he shares anecdotes about his time volunteering with donkeys in Spain, blending economic insights with charming life stories.