The Revival of the Note Issue Paradox: Free Banking in Switzerland between 1872 and 1881

2007 ◽  
Author(s):  
Lorenz Kueng
Keyword(s):  
Free Banking

scholarly journals HERBERT SPENCER’S CASE FOR FREE BANKING

2021 ◽  
pp. 1-18
Author(s):  
George Bragues
Keyword(s):  
Nineteenth Century ◽  
Money Supply ◽  
Late Nineteenth Century ◽  
Free Banking ◽  
Herbert Spencer ◽  
Late Nineteenth ◽  
The Government

Though now almost entirely forgotten, Herbert Spencer was among the most widely read thinkers during the late nineteenth century. As part of his system of synthetic philosophy, Herbert Spencer addressed the topics of money and banking. This philosophic system articulates a concept of justice based on the principle of equal freedom. Invoking this principle, Spencer rejected a government-superintended regime of money and banking as unjust. Instead, he morally favored a system of free banking. Spencer also defended this system on economic grounds. His argument was that banks could be self-regulating in their management of the money supply, on the condition that the government limit its activities in the financial sphere to the enforcement of contracts. While Spencer’s case is not beyond questioning on philosophic and political grounds, he offers a distinctive and forceful analysis.

New York Free Banks and the Role of Reputations

1994 ◽  
Vol 38 (2) ◽  
pp. 66-77
Author(s):  
Michael J. Haupert
Keyword(s):  
New York ◽  
Free Market ◽  
The State ◽  
Free Banking ◽  
Competitive Markets

The era of free banking in the state of New York featured the competitive issue of money by banks. The results of this research provide support for the argument that banking during this period was not an anomaly, but an example of the effects of competition in a free market. This is done by establishing a link between bank reputations and the discount at which their notes traded. Quality is important and can be discerned through the use of reputations as a proxy, and thus can act as a stabilizing force in competitive markets where quality is difficult to recognize.

The Experience of Free Banking.

1993 ◽  
Vol 103 (418) ◽  
pp. 743
Author(s):  
Sheila C. Dow ◽  
Kevin Dowd
Keyword(s):  
Free Banking

Rozeff on free banking: a critique

2018 ◽  
Vol 34 (2) ◽  
pp. 123-136
Author(s):  
Laura Davidson ◽  
Walter E. Block
Keyword(s):  
Design Methodology ◽  
Free Banking ◽  
Fractional Reserve Banking ◽  
Content Type ◽  
Monetary System ◽  
Fractional Reserve ◽  
Reserve Banking

Purpose The purpose of this paper is to correct Rozeff (2010). He contends that fractional-reserve banking is legitimate and efficacious. The authors demonstrate that it is not. Design/methodology/approach The design of this paper is to quote widely from Rozeff (2010) and then to expose his errors of analysis. Findings The authors demonstrate that fractional-reserve banking is neither legitimate nor efficacious. Originality/value Money is the lifeblood of the economy. If so, then banking is the marrow of the economy, since it is from that sector that money arises in the first place. It is crucially important, then, that the monetary system be based on sound principles. Fractional-reserve banking is a violation of these sound principles. Therefore, it is valuable to demonstrate that this is indeed the case.

Free banking: The ultimate deregulation of the financial system

1984 ◽  
Vol 12 (3) ◽  
pp. 80-80
Author(s):  
Donald R. Wells ◽  
L. S. Scruggs
Keyword(s):  
Financial System ◽  
Free Banking
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