The Case Against Currency Boards
The authors argue that a currency board is a creation of the state, aiming at granting particular political favors,and purposefully designed to secure the reappearance of an independent domestic money producer.
Money and Banking
Displaying 1111 - 1120 of 2003
Gold Bonds and Silver Agitation
During the late nineteenth century, when silver agitation threatened the gold standard in the United States, gold bonds offered investors some protection from the uncertainties concerning the monetary standard in the United States.
Short Changing 100 Percent Reserves
Selgin (2009) offers a challenge to 100 percent reserve banking by noting that small change would be unprofitable with 100 percent reserve money.
Review of Finance and the Good Society, by Robert J. Shiller
What defines a "good society" and how can we use finance to achieve it? Robert Shiller takes the former question as settled, and dedicates his new book Finance and the Good Society
The Origins of the Federal Reserve
The financial elites of this country, notably the Morgan, Rockefeller, and Kuhn, Loeb interests, were responsible for putting through the Federal Reserve System, as a governmentally created and sanctioned cartel
Frédéric Bastiat’s Views on the Nature of Money
I have re-examined Bastiat’s contributions to economic theory and have found the charges against him to be unsubstantiated. In terms of economic theory, Bastiat is widely knowledgeable
The Failure of OCA Analysis
In this paper the theory of optimum currency areas (OCA) is presented, and then I will attempt to prove:
1. The OCA theory is nonoperational and irrelevant in dealing with the present international monetary situation.
2. The basic postulates of OCA theory are internally inconsistent and incompatible with economic theory.
Free Banking in Sweden 1830–1903: Experience and Debate
Between 1830 and 1903, Sweden experienced one of the longest and most successful free-banking periods in history. During this period, private note issuing banks were allowed and prospered.
Money or Money Substitutes?: Implications of Selgin’s Small Change Challenge
Selgin (2009) questions the practicality of 100 percent reserve requirements applied to small change. He interprets the private coinage of small change in 18th century England as embodying fiduciary media
Fritz Machlup and the Bellagio Group: Solutions to Liquidity, Adjustment and Confidence Problems and Their Opportunity Costs
Economist Fritz Machlup took a unique goals-assumptions-opportunity costs approach to the examination of alternative monetary reform plans. During the Bellagio Group conferences he,
