Archive for the 'Jens Reich' Category

My Review of Seigiorage by Jens Reich Is now Available on SSRN

A draft of my review of Seigniorage by Jens Reich forthcoming in The Journal of the History of Economic Thought is now available on SSRN. Here is the abstract.

This review provides a brief summary description of the book and its eight chapters which review the history of and the history of thought about seigniorage. After the first two introductory chapters, the next four chapters analyze the conditions for optimal seigniorage for three ideal types of currency (commodity, fiat, and credit) and for mixed systems of commodity and credit currencies and fiat and credit currencies. The final chapters discuss how the analysis might be extended to consider optimal seigniorage not in isolation but as part of an integrated fiscal system and how the place of the theory of seigniorage within monetary theory. Despite the valuable contribution Reich makes in providing a detailed overview of the literature on seigniorage and to the analysis of seigniorage, the review notes several topics on which Reich’s analysis of seigniorage is incomplete or insufficiently nuanced.


About Me

David Glasner
Washington, DC

I am an economist in the Washington DC area. My research and writing has been mostly on monetary economics and policy and the history of economics. In my book Free Banking and Monetary Reform, I argued for a non-Monetarist non-Keynesian approach to monetary policy, based on a theory of a competitive supply of money. Over the years, I have become increasingly impressed by the similarities between my approach and that of R. G. Hawtrey and hope to bring Hawtrey's unduly neglected contributions to the attention of a wider audience.

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