1.

Record Nr.

UNINA9910799992303321

Autore

Dowd Kevin

Titolo

Laissez-faire banking / / Kevin Dowd

Pubbl/distr/stampa

London ; ; New York : , : Routledge, , 1993

ISBN

1-134-77563-6

0-429-22866-X

0-415-08584-5

1-134-77564-4

1-280-33254-9

9786610332540

0-585-46131-7

0-203-02909-7

Descrizione fisica

1 online resource (384 p.)

Collana

Foundations of the market economy series

Disciplina

332.1

Soggetti

Free banking - History

Monetary policy - History

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references (p. [357]-371) and index.

Nota di contenuto

Cover; Laissez-faire banking; Title Page; Copyright Page; Table of Contents; List of figures and tables; Acknowledgements; 1 Introduction; Part I Free banking theory; 2 Automatic stabilizing mechanisms under free banking; 3 Option clauses and the stability of a laissez-faire monetary system; 4 Monetary freedom and monetary stability; 5 Is banking a natural monopoly?; 6 Models of banking instability; Part II Historical experience; 7 Free banking in Australia; 8 US banking in the 'free banking' period; 9 Money and banking: the American experience; 10 Did central banks evolve naturally?

11 The evolution of central banking in England, 1821-9012 The evolution of central banking in England: a reply to my critics; Part III Monetary and banking reform; 13 Stopping inflation; 14 Does Europe need a Federal Reserve System?; 15 Evaluating the hard ecu; 16 The US banking crisis: the way out; Notes; Bibliography; Index

Sommario/riassunto

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 industr