Laissez Faire Banking

Hardcover (Print)
Buy New
Buy New from
Used and New from Other Sellers
Used and New from Other Sellers
from $29.10
Usually ships in 1-2 business days
(Save 85%)
Other sellers (Hardcover)
  • All (10) from $29.10   
  • New (4) from $109.51   
  • Used (6) from $29.10   


The idea of free (or laissez-faire) banking has enjoyed a remarkable renaissance in recent years. It is a radical idea that challenges much of what many monetary and 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 should they be treated differently? Laissez-faire Banking is divided into three interrelated sections, dealing with the theory of free banking, historical experiences of it and present-day monetary and banking reforms based on free banking principles. Questions relating to the stability or otherwise of free banking regimes are always paramount, and the practical section discusses various forms of automatic stabilizing mechanisms under free banking. The historical chapters also provide compelling evidence of the ultimate stability of free banking systems as well as discussing how central banking evolved in Britain and the United States and the effects it has had. Finally, the book shows how free banking theory can shed light on important contemporary issues, including European monetary reform, the consequences of a European central bank and the US banking crisis.
Read More Show Less

Editorial Reviews

An assessment and survey of current approaches in service provision to the elderly with psychological problems emphasizing every day clinical techniques currently used in the UK and the US. The 14 contributors evaluate general health care issues and psychogeriatric management as well as specific practices dealing with a range of disorders from Alzhemier's to Pick's disease concentrating on team approaches, community work, and individual therapy. Ten appendices supply suggested formats for statistical recording, consent forms, staff questionnaires, procedures, and outcome measures. Annotation c. Book News, Inc., Portland, OR (
Read More Show Less

Product Details

Table of Contents

List of figures and tables
1 Introduction 1
Pt. I Free banking theory 23
2 Automatic stabilizing mechanisms under free banking 25
3 Option clauses and the stability of a laissez-faire monetary system 41
4 Monetary freedom and monetary stability 58
5 Is banking a natural monopoly? 76
6 Models of banking instability 87
Pt. II Historical experience 115
7 Free banking in Australia 117
8 US banking in the 'free banking' period 149
9 Money and banking: the American experience 180
10 Did central banks evolve naturally? 207
11 The evolution of central banking in England, 1821-90 221
12 The evolution of central banking in England: a reply to my critics 248
Pt. III Monetary and banking reform 253
13 Stopping inflation 255
14 Does Europe need a Federal Reserve System? 265
15 Evaluating the hard ecu 281
16 The US banking crisis: the way out 292
Notes 319
Bibliography 357
Index 372
Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star


4 Star


3 Star


2 Star


1 Star


Your Rating:

Your Name: Create a Pen Name or

Barnes & Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation


  • - By submitting a review, you grant to Barnes & and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Terms of Use.
  • - Barnes & reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)