Jerry Dwyer on the History of Free Banking and the Future of Bitcoin

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  Welcome to Macro Musings,

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  where each week we pull back the curtain and take a closer look at the most important macroeconomic issues of the past,

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  present, and future.

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  I am your host, David Beckworth,

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  a senior research fellow with the Mercatus Center at George Mason University,

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  and I'm glad you decided to join us.

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  Our guest today is Gerald Dwyer.

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  Jerry is a professor emeritus of economics at Clemson University,

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  and from 1997 to 2012 was the founding director of the Center for Financial Innovation and Stability and a vice president at the Federal Reserve Bank of Atlanta.

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  Currently, Jerry is a senior fellow at the Bitcoin Policy Institute.

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  Jerry has written widely on the history and theory of money and has taken this interest to digital money.

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  In fact,

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  Jerry first published about cryptocurrencies in 1999 in a journal article and has several widely cited pieces on this topic,

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  including a 2015 article in the Journal of Financial Stability titled,

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  The Economics of Bitcoin in Similar Private Currencies.

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  Jerry joins us today to help make sense of cryptocurrencies and how to invoke history.

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  when we think about stablecoins.

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  Jerry, welcome to the program.

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  Thank you.

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  It's a pleasure to be here.

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