附註:Includes bibliographical references (pages 357-371) and index.
Automatic stabilizing mechanisms under free banking -- Option clauses and the stability of laissez-faire monetary system -- Monetary freedom and monetary stability -- Is banking a natural monopoly? -- Models of banking instability -- Free banking in Australia -- US banking in the free banking period -- Money and banking: the American experience -- Did central banks evolve naturally? -- The evolution of central banking in England, 1821-90 -- The evolution of central banking in England: a reply to my critics -- Stopping inflation -- Does Europe need a Federal Reserve System? -- Evaluating the hard ecu -- The US banking crisis: the way out.
摘要: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.
