George Selgin: Salerno process leads to market-clearing prices without sales data

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10.04.2026

George Selgin: Salerno process leads to market-clearing prices without sales data — Process assures market-clearing prices

George Selgin discusses a process described by Salerno where sellers do not need to consult actual sales results or inventory levels to inform their pricing decisions.

According to Selgin, this approach assures that prices remain at market-clearing levels, eliminating the need for direct reference to spending data or sales figures.

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Selgin has previously addressed challenges in shifting from the Federal Reserve’s floor system, noting the complexities involved in moving back to a scarce reserve framework in a recent article. He has also contrasted Hayek’s monetary scheme with free banking, citing real-world instances of implemented free banking models in prior commentary. The ongoing discussion reflects his broader research on monetary system functioning.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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