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In What Respects Will the Information Age Make Central Banks Obsolete?
Originally published in Cato Journal
Like a post office, a central bank does useful things. That fact that it does useful things does not make either institution efficient, at least not in its present-day form as a government agency. Just as private firms can better deliver packages and letters, private institutions can better provide the services that central banks currently provide.
Like a post office, a central bank does useful things. That fact that it does useful things does not make either institution efficient, at least not in its present-day form as a government agency. Just as private firms can better deliver packages and letters, private institutions can better provide the services that central banks currently provide.
Read the article at Cato Journal.
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