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Laissez-faire Banking by Kevin K. Dowd


Laissez-faire Banking by Kevin K. Dowd

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 industry that provides it and why? Laissez-Faire Banking is divided into three inter-related sections, dealing with the theory of free banking, historical experiences of it and present-day monetary and banking reforms based on free banking principles.

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Book Info

Publication date

30th May 1996


Kevin K. Dowd

More books by Kevin K. Dowd
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Routledge an imprint of Taylor & Francis Ltd


392 pages





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