Monetary policy all over the world has followed the advice of the stabilizers.
It is high time that their influence, which has already done harm enough, should be overthrown.
F. A. Hayek, 1932
Money and banking combine as a subject too important to not understand.
Money plays an extremely important role in the operation of any economy. Banking provides the infrastructure and tools for the storing, transfer, and (regrettably) the creation of money. Yet, so few people understand the topics that make up the subject money and banking.
In this section we will examine some of the more complex elements in the topics of money and banking.