“Government Monopoly Money vs. Free Market Money” with Richard Ebeling

AIER's Bastiat Society program in Washington, DC hosted a virtual event with Dr. Richard Ebeling, the BB&T Distinguished Professor of Ethics and Free Enterprise Leadership at The Citadel.

Over the past year, the Federal Reserve has engaged in unprecedented intervention in the financial markets with its balance sheet expanding by almost 80% to a record $7.5 trillion and the M2 money supply growing by 26%. Given the ever-increasing involvement of the Federal Reserve in the economy with record government budget deficits, Richard Ebeling examines the historical experience of the Federal Reserve and government-controlled monetary systems, including the gold-based monetary systems of past centuries. Dr. Ebeling makes the case that the superiority of free markets over government control is no different with money and banking and that the United States and the rest of the world would be better off with free-market money and competitive free banking.