Volume 16, No. 2 (Summer 2013)

The theory of free banking establishes that free competition in note issue decreases the probability of financial instability and currency depreciation. This article analyzes the Peruvian experience between 1862 and 1878 and shows that, consistent with the theory; free banking did not lead to financial instability. On the contrary, government intervention in the banking sector contributed to the expansion of paper money and to the decline in the ability of banks to face the demand for specie.

Volume 16, No. 2 (Summer 2013)

Authors, Ekelund and Price have produced an engrossing and informative study of the economic life and times of Edwin Chadwick. Scholars interested in economic policy and reform, the history of industrialization, and the history of economic thought will find much of interest here.

Volume 16, No. 3 (Fall 2013)

Volume 16, No. 3 (Fall 2013)

Volume 16, No. 3 (Fall 2013)

Volume 16, No. 3 (Fall 2013)

Bellikoth Ragunath Shenoy was an Indian economist and teacher who produced many essays on Indian economic policy. Scholars of economic thought have neglected the importance of his work. In this essay I develop an analysis of the theoretical basis that suffuses his policy commentary.

Volume 16, No. 3 (Fall 2013)

Volume 16, No. 3 (Fall 2013)