ENGLISH

Laissez-Faire Banking (Foundations of the Market Economy)

By Kevin Dowd

Book information

Year
1996
ISBN
0415137322, 9780415137324
Open Library ID
OL7483870M
Language
english
Format
PDF
Filesize
3 MB (3144124 bytes)
Edition
New edition
Pages
400\389
Scanned
yes
Time added
2011-06-04 13:46:07

Description

The idea of free (or laissez-faire) banking has enjoyed a remarkable renaissance in recent years. It is a novel idea that challenges much of what many banking scholars still take for granted - that banking is inherently unstable, that the banking system needs a lender of last resort or deposit insurance to defend it in a crisis, and that the government has to protect the value of the currency. Against this free banking sets an argument which is in essence very simple: if markets are generally better at allocating resources than governments, then what is different about money and the industry that provides it and why? Laissez-Faire Banking is divided into three inter-related sections, dealing with the theory of free banking, historical experiences of it and present-day monetary and banking reforms based on free banking principles.

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