Competition and Monopoly in the Federal Reserve System, 1914–1951

Discover the intricate dynamics of the Federal Reserve System in "Competition and Monopoly in the Federal Reserve System, 1914–1951" by Mark Toma. Published by Cambridge University Press in 2005, this insightful 148-page book delves into the evolution of the Federal Reserve, challenging the conventional belief that competition among central banks leads to excessive currency issuance. Toma meticulously examines the transition from a competitive framework to a monopolistic structure, offering readers a comprehensive understanding of economic history during a pivotal era, including the First World War and the inter-war period. Ideal for enthusiasts of Business & Economics and Economic History, this book is a must-read for anyone interested in the foundational workings of modern banking systems and their impact on the economy.