The Evolution of Central Banks | Session 2

This is the second of two sessions on Charles Goodhart's 1988 book The Evolution of Central Banks.

https://www.amazon.com/Evolution-Central-Banks-Charles-Goodhart/dp/0262570734/

From the description:

The Evolution of Central Banks employs a wide range of historical evidence and reassesses current monetary analysis to argue that the development of non-profit-maximizing and noncompetitive central banks to supervise and regulate the commercial banking system fulfils a necessary and natural function. Goodhart surveys the case for free banking, examines the key role of the clearing house in the evolution of the central bank, and investigates bank expansion and fluctuation in the context of the clearing house mechanism.

This week, we discuss the first Chapter 7, Chapter 8, and the (long) Appendix

• Chapter 7: Why Banks Need a Central Bank
• Chapter 8: Summary and Conclusions
• Appendix: Central Banks in Europe and Japan at the End of the Nineteenth Century