Elgin Groseclose

Elgin Earl Groseclose (1899–1983) was an American economist, a statesman, and the author of America's Money Machine.

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The Great Paper-Money Experiment

BiographiesBooms and BustsWorld HistoryInterventionism

02/20/2021Mises Daily ArticlesElgin Groseclose

By 1715, the manipulation of the currency, the increase in public debt, and the mismanagement of state finances had left France in poverty and chaos. Such was the state of affairs when John Law appeared in Paris.

America's Money Machine: The Story of the Federal Reserve

The FedU.S. EconomyU.S. History

05/27/1980BooksElgin Groseclose

Groseclose shows that at no time in its history has the Fed actually achieved what it promised: low inflation, economic stability, stable growth, reliable regulation of the banking system.

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