Noted Economists Against Central Banks

 

Many economists are critical of the concept of central banking. Here are ten economists who have expressed skepticism or opposition to central banking at various points in their careers:

Murray Rothbard: Rothbard was a prominent libertarian economist who argued against central banking and advocated for a return to a gold standard. His book "The Case Against the Fed" is a critique of the Federal Reserve.

Friedrich Hayek: Although not categorically against central banking, Hayek was critical of central planning in monetary policy and advocated for competition in currencies. He believed in the denationalization of money.

Ludwig von Mises: Mises was a key figure in the Austrian School of economics and expressed skepticism about central banking, particularly regarding its ability to maintain monetary stability.

Henry Hazlitt: Hazlitt was an advocate for free-market economics and wrote critically about central planning, including central banking, in his book "Economics in One Lesson."

Ron Paul: While primarily a politician, Ron Paul is also an economist by training and has been a vocal critic of central banking, advocating for its abolition during his political career.

Walter Block: Block is an Austrian economist who has criticized central banking and argued for the benefits of competitive, privately issued currencies.

George Selgin: Selgin is known for his work on free banking and has argued against central banking, favoring decentralized and competitive banking systems.

Lawrence H. White: White is an economist who has written extensively on free banking and has expressed reservations about central banking, advocating for alternative monetary systems.

Robert Wenzel: Wenzel, an economist and blogger, has been critical of central banking and has written extensively on the subject.

Jörg Guido Hülsmann: Hülsmann is an Austrian economist who has questioned the necessity of central banks and their role in the economy.

It's important to note that while these economists are critical of central banking, their specific views and proposals for alternative monetary systems may vary. Additionally, the majority of economists and policymakers support the existence of central banks as a means to conduct monetary policy and stabilize financial systems. The field of economics encompasses a wide range of perspectives on this and other issues.