Commodity Money, Free Banking, and Nominal Income Targeting

2019 ◽  
Author(s):  
Joshua R. Hendrickson
Keyword(s):  
Free Banking ◽  
Commodity Money ◽  
Nominal Income

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.

Commodity money inflation: theory and evidence from France in 1350–1436

2003 ◽  
Vol 50 (8) ◽  
pp. 1769-1793 ◽  
Author(s):  
Nathan Sussman ◽  
Joseph Zeira
Keyword(s):  
Commodity Money
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