Understanding central banking

[FortuneCookie]

My interest in the fed and central banking has been growing and growing. And I don't like to form opinions on topics I do not completely understand.
So if anybody could recommend me good books or long pdf's that explain the theory of central banking and the modern practice of central banking. (not interested in conspiracy or biased writings). I realy realy want to understand this subject in it's complete detail.

Thank you very much for your time and effort

Fortunecookie

 

[Occam's Banana]

What Has Government Done to Our Money? - Murray Rothbard (PDF link).

There's plenty of other stuff on the topic at mises.org. Look around there and you'll find more than enough to satisfy your appetite.

 

[anaconda]

Not sure where you're at. An introductory macroeconomic principles text would be OK. Then an "intermediate" macro text (undergraduate, upper division class). Just get something used for a couple of bucks on amazon. It might be drudgery but it might be worth the effort. Then maybe a "money and banking" economics text. Every economics department has at least one upper division course in "money and banking."

 

[FortuneCookie]

What Has Government Done to Our Money? - Murray Rothbard (PDF link).

There's plenty of other stuff on the topic at mises.org. Look around there and you'll find more than enough to satisfy your appetite.

That title sounds kind of biased and I'm realy more looking for an objective explanation on central banking before I read the opinionated ones.

Not sure where you're at.

Just looking for a basic but detailed explanation of central banking.

 

[Occam's Banana]

That title sounds kind of biased and I'm realy more looking for an objective explanation on central banking before I read the opinionated ones.

Just looking for a basic but detailed explanation of central banking.

Well, given that the thing is entirely free, you could at least try reading it to see what you think rather than judging it merely by its title. But *shrug* it's your call.

If your looking for an "objective" treatment of the subject, well ... good luck with that.

The topic is a highly politicized one and I doubt there are any lengthy disquisitions upon the matter that will meet your standard. Even dry, technical treatises will operate under subjective decisions regarding what to include, what to omit, what to emphasize, what to pass over briefly, etc.

 

[FortuneCookie]

Well, given that the thing is entirely free, you could at least try reading it to see what you think rather than judging it merely by its title. But *shrug* it's your call.

If your looking for an "objective" treatment of the subject, well ... good luck with that.

The topic is a highly politicized one and I doubt there are any lengthy disquisitions upon the matter that will meet your standard. Even dry, technical treatises will operate under subjective decisions regarding what to include, what to omit, what to emphasize, what to pass over briefly, etc.

Allright I'll download it but I already have a Murray Rothbard pdf called 'Case against the fed'. Which critizes the fed for the rather obvious reasons (legal counterfeit, inflation, central planning with interest rate, the accompanied government growth, fractional reserve banking, the booms and bust because of artificial leverage and the Jekyll Island conspiracy regarding the profit booking for the insiders of the federal reserve system). I doubt there will be much different in ''What has the government done to our money''. But I still feel like I haven't got to the bottom of it and want to understand it completely.

Central Banking in theory is independant and not politicized and I'd like to learn more about the economic theories of central banking. So maybe you're right about that there always will be some subjectivity in writings but the more limited and the more dry the text is the better.

Thanks

Fortunecookie

 

[Occam's Banana]

Central Banking in theory is independant and not politicized and I'd like to learn more about the economic theories of central banking. So maybe you're right about that there always will be some subjectivity in writings but the more limited and the more dry the text is the better.

You put your finger directly on the problem. Central banks don't exist "in theory" - they only exist in the "real world", and as such they'll never be "independent" or non-political in nature, no matter what any theory about them says. So anyone arguing for or against central banking (even if only on theoretical grounds) is either going to be "opinionated" or living in a fantasy never-never land.

Any "objective" treatment of central banking would have to be purely descriptive in nature, rather than prescriptive. That is, it would have to restrict itself solely to what central banks *actually* do (in the form of a non-normative technical description). It would also have to avoid or gloss over what central banks *ought* to do (in the form of theorizing).

Good luck in finding something, though. If you do find anything that fits your bill, please post about here. I'd like to check it out.

 

[awake]

What Has Government Done to Our Money? - Murray Rothbard (PDF link).

There's plenty of other stuff on the topic at mises.org. Look around there and you'll find more than enough to satisfy your appetite.

This is the best book by far.

 

[FortuneCookie]

Any title reccomendations would be welcomed

 

[WilliamShrugged]

Any title reccomendations would be welcomed

Here is Jesus Huerta de Soto's "Money, Bank Credit, and Economic Cycles"

http://library.mises.org/books/Jesus Huerta de Soto/Money, Bank Credit, and Economic Cycles.pdf

I'll also present you with a list of books that might interest you.

http://mises.org/Literature/search/?q=central banking

 

[FortuneCookie]

Here is Jesus Huerta de Soto's "Money, Bank Credit, and Economic Cycles"

http://library.mises.org/books/Jesus Huerta de Soto/Money, Bank Credit, and Economic Cycles.pdf

I'll also present you with a list of books that might interest you.

http://mises.org/Literature/search/?q=central banking

Ah thanks That list contains some good reads on the feds history! But not too much on the theory of central banking (Money Bank and Economic Cycles is an critical analyze of central banking). I'll start reading Credit Policies of the Federal Reserve System but any more reccomendations that focusses purely on central banking theory and practice would be great.

Edit: A very good read I got out of that list is Credit Policies of the Federal Reserve System. I recommend it!

 

[emazur]

Check out this San Jose State U. econ professor's webpage:
http://www.gibson2.com/econ135.html
and his free textbook: Money, Banking, and Finance http://www.gibson2.com/econ135/GibsonMoneyBanking.pdf

 

[heavenlyboy34]

Here is Jesus Huerta de Soto's "Money, Bank Credit, and Economic Cycles"

http://library.mises.org/books/Jesus Huerta de Soto/Money, Bank Credit, and Economic Cycles.pdf

I'll also present you with a list of books that might interest you.

http://mises.org/Literature/search/?q=central banking

This list pretty much covers everything. ^^ Nice job!

 

[Henry Rogue]

The Case Against the Fed by Murry N. Rothbard http://mises.org/books/fed.pdf
A History of Money and Banking in the United States The Colonial Era to World War 2 by Murry N. Rothbard http://mises.org/books/historyofmoney.pdf

 

[FortuneCookie]

Thanks all!