Money and the rule of Law: Book review: Boettke, P., Salter, W., and Smith, D. (2021). Money and the rule of Law: generality and predictability in Monetary Institutions. Cambridge University Press, pp: 193. ISBN 978-1-108-79084-0 Paperback.

To conclude, I Money and the Rule of Law i is a welcome contribution to the intellectual road and research agenda at the intersection of political economy, banking theory, and monetary institutions. Despite all its macroeconomic refinement and high levels of technicality, monetary policy cannot escape this fundamental fact of economic nature; this is because both monetary policy and banking processes will always be dependent on the institutional structure in which it operates (Paniagua, [23]). The notion of taming banking crises and preventing them from ruining the financial system are among the strongest arguments employed to guarantee a higher degree of discretion in monetary and banking policy. The book is a great reminder of the fact that while economics might be a science, political economy and monetary policy are worldly arts[7] that require prudence and nuanced understanding of how institutions are constructed. [Extracted from the article]