Andrew Jackson managed to kill the Second Bank of the United States. He did this because the Jacksonians were stupid hicks who didn’t understand money, banking, or economics, says the textbook. To the contrary, they understood those things all too well, which is why probably the key monetary theorist and historian of the day, William Gouge, was a hard money opponent of the bank.
The story of Jackson’s effort, and whether we can replicate his success today, is the subject of a talk I’m giving tomorrow in Nashville.
10:49 am on July 21, 2011
