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The Rationale of Central Banking was first published in England in 1936. Vera Smith spent her professional career in a variety of research positions. She wrote articles and books on money, banking, economic development, and the labor market and translated into English books by Wilhelm Rpke, Oskar Morgenstern, and Fritz Machlup.This book provides a scholarly review and judicious assessments of the experience and theory that bear on the issues of free banking and central banking. Its wideranging discussion identifies both the fallacies in the arguments for central banks and the influential fallacies in the arguments against free banking. Vera Smiths work should play a prominent role in any reappraisal of our monetary institutions.
⚠️ WARNING (California Proposition 65):
This product may contain chemicals known to the State of California to cause cancer,
birth defects, or other reproductive harm.
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