Money & Banking

David Kamerschen's 696-page textbook served undergraduate economics students well in the 1970s as a comprehensive introduction to money, banking, and monetary policy — covering commercial banking, the Federal Reserve, and the macroeconomic role of financial institutions with a clear organizational logic suited to semester coursework. For what it was, it was solid. The caveat is unavoidable: the financial world has changed so fundamentally since 1976 that this text is now primarily of historical and archival interest. Deregulation, the savings-and-loan crisis, securitization, digital banking — none of it is here. Researchers tracing the intellectual history of monetary economics will find it useful; students seeking to understand today's banking system should look elsewhere.