In this episode of Two Beers With Steve I speak one on one with Prof. George Selgin, Professor of Economics at the University of Georgia's Terry School of Business.

We begin our discussion with definitions of what is money and what constitutes money before we begin exploring George Selgin's theory of Free Banking. Free Banking, in a quick one sentence description, is a completely deregulated banking system, free of a central bank and the FDIC, where private banks make loans and issue their own money.

In this interview Prof. Selgin describes the problems of our current system and offers a possible solution, the Free Banking system. It is becoming increasingly obvious to me, Steve, that the Federal Reserve is not the answer to the problem, but that it is the problem.

More about Prof. George Selgin

Good Money Book by George Selgin. Good Money tells the fascinating story of British manufacturers' challenge to the Crown's monopoly on coinage