"Free banking is an idea that you will be hearing more about in the years ahead."
-Forbes"Selgin's book brings a formal, systematic free banking theory to the attention of professional economists for the first time."
-Richard H. Timerlake, University of Georgia"George Selgin has offered a comprehensive and convincing analysis of how a private, self-managing monetary order would work to provide greater economic stability than the best possible central bank."
-Joe Cobb, Joint Economic Committee"Selgin argues in admirable detail that free banking, including competitive note issue, would work and would be a beneficial reform. His broad conclusions are convincing. Grappling with Selgin's arguments has been instructive for me--and fun."
-Leland B. Yeager, Auburn University
In this bold volume economist George A. Selgin refutes many of the traditional assumptions about the efficacy of central banks. He provides the first detailed investigation of the principles of free banking and explains how improved banking institutions and procedures would develop in an unregulated environment. Using historical examples and macroeconomic theory, Selgin shatters the myth that central banking--as manifested in a government monopoly over the currency supply--is indispensable to monetary stability. He presents solid evidence that a free market for money is a better means of achieving monetary stability than either monetary rules or a monetary authority.
1988/218pp./$33.50 cloth ISBN: 0-8476-7578-5
[ Ordering Information | Book Index | Publications | Home ]