Austrian economists have warned that the modern banking system has been fundamentally unstable for decades. This isn't the consequence of "woke" bank executives, or a few poorly run banks. It's the result of the failures of modern economic thinking that celebrates the inflationary practices of central banks, the subsidization of risk via low interest rates, and the instability inherent in fractional reserve banking.
It doesn't have to be this way.
These books by Murray Rothbard will empower readers to understand the current financial crisis better than mainstream economists or college economics lectures.
The Mystery of Banking: Readers who absorb Rothbard's account will learn how the Federal Reserve System promotes monetary instability and the business cycle. Rothbard concludes by showing how we can return to a sound monetary system, based on the gold standard.
The Origins of the Federal Reserve: The Fed did not originate as a policy response to national need. It wasn't erected for any of its stated purposes. It was founded by two groups of elites: government officials and large financial and banking interests.
What Has Government Done to Our Money?: Rothbard was the first to prove that the government, and only the government, can destroy money on a mass scale, and he showed exactly how they go about this dirty deed.
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