Running Out of Money, LITERALLY.
History seems to be repeating itself - our current economic climate is being compared to the Great Depression, Michael Jackson is making a comeback and nations are running out of currency.
In Good Money: Birmingham Button Makers, the Royal Mint, and the Beginnings of Modern Coinage, 1775-1821, George Selgin tells the fascinating story of British manufacturers' challenge to the Crown's monopoly on coinage. This book has been received with widespread critical acclaim and has resulted in Selgin becoming an expert on coin shortages, resulting in his recent authorship of an article for the Wall Street Journal.
Take a look at reviews of Good Money and Selgin's article in the complete entry.
"Not only is Good Money very thought provoking, it is also beautifully written and embellished with several glossy pages of illustrations of the coins, people, and buildings central to the story. Whether you use good money or bad, buy this wonderful book....." Read more here
-- David R. Henderson, Regulation Magazine
"The story is riveting in its own right, not only as monetary history but as business history. He has highlighted a fantastic industry that has long gone unnoticed. But beyond that, there is a massively important economic point. What Selgin has done here is help us to understand something critically important: were it not for the state, a wholly private money system would emerge from market exchange....." Read more here
-- Ludwig von Mises Institute
"Suppose you want to ride the bus or feed a parking meter without exact change. Or suppose you just want to drop a few cents in a street musician's hat. Nothing easier, right? Not if you live in Argentina. Try doing any of these things there, and you could be in for a major hassle. Why? Because Argentina is in the grips of a small-change shortage....." Read more here
-- George Selgin, Wall Street Journal
