Title
Laissez Faire Banking (Routledge Foundations Of The Market Economy)
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The idea of free (or laissezfaire) 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? 'LaissezFaire Banking' is divided into three interrelated sections, dealing with the theory of free banking, historical experiences of it and presentday monetary and banking reforms based on free banking principles.
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