There is something about this FRB debate that tempts almost everyone to imagine that it is just something to "think about for a while" and the announce one's position. I really don't understand why. It gets incredibly tiring to hear the trite terms in which this serious issue is discussed, debated, etc., even given that there is a MASSIVE and SERIOUS literature on the subject in print. Why do scholars bother writing things when people are happy to just generate an opinion based on nothing other than intutition? I don't know.
What I would suggest is that if one really wants to have an opinion on this subject that one should read at least three serious article on opposing points of view, and at least one book: in particular, the most extended work on the relationship between micro-economic banking practice and macroeconomic phenomena, namely Jesus Huerta de Sotos Money, Bank Credit, and Economy Cycles. You can buy or read it online for free.
In addition, there literature section of Mises.org has probably 150 articles that address this topic in particular.
Jeffrey TuckerEditorial VP, Mises
It gets incredibly tiring to hear the trite terms in which this serious issue is discussed, debated, etc., even given that there is a MASSIVE and SERIOUS literature on the subject in print. Why do scholars bother writing things when people are happy to just generate an opinion based on nothing other than intutition? I don't know.
Like pretty much every other discussion here, it would seem. References for further reading are for whatever reason treated with scorn and derision.
-Jon
To darkness I condemn you...
scineram: krazy kaju: This was destroyed on RPF of all places. What is RPF?
krazy kaju: This was destroyed on RPF of all places.
This was destroyed on RPF of all places.
What is RPF?
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jtucker is right.
Other good books include:
Larry White, History of Free Banking
George Selgin, Theory of Free Banking
Larry Sechrest, Free Banking http://www.mises.org/books/freebanking.pdf
F Hayek, Denationalization of Currencies http://www.4shared.com/file/42731157/42e7bb7a/FA_Hayek_-_Denationalization_Of_Money.html
Unlike De Soto these books (except for Hayek) accept fractional reserve banking as both beneficial and legitimate, as long as they are not monopolized.
Wow, denationalization online! that's wonderful. I wish I had a fix on the copyright status of that book.
Jeff, you can also get it at the Institute for Economic Affairs http://www.iea.org.uk/record.jsp?type=book&ID=431
Just click on download full version link. I believe they hold the copyright.
Are you the ACTUAL Jeffrey Tucker? That is so cool.
Jeffrey Tucker is very cool.
If you find something evil that wobbles, push it. - Gary North
liberty student: Jeffrey Tucker is very cool.
A brilliant writer too. This is a great article about coin shops: http://mises.org/story/3073
I am an eklektarchist not an anarchist.
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