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“There was controversy over how much power the central bank should have and what it should try to do, but no respectable economist suggested that central banking itself was unnecessary or harmful until Hayek finally despaired of it in 1976 and began to argue that the only way to achieve monetary stability was to denationalize money (Hayek 1976). Hayek’s suggestion attracted considerable interest, and free banking became the focal point of a major research effort. Although the idea seemed novel and even bizarre, it soon became apparent that free banking systems had actually existed in the past and that free banking had a long and respectable history.” Get it here.

The Experience of Free Banking
Kevin Dowd
Routledge, 1992.

Table of Contents:

1 Introduction: The experience of free banking
Kevin Dowd

2 The world history of free banking: an overview
Kurt Schuler

3 Free banking in Australia
Kevin Dowd

4 Free banking in Canada
Kurt Schuler

5 Free banking in Colombia
Adolfo Meisel

6 Free banking in Foochow
George A. Selgin

7 Free banking in France (1796-1803)
Philippe Nataf

8 Free banking in Ireland
Howard Bodenhorn

9 Free banking in Scotland before 1844
Lawrence H. White

10 Free banking in Switzerland after the liberal revolutions in the nineteenth century
Ernst Juerg Weber

11 US banking in the ‘free banking’ period
Kevin Dowd

Image by dan / FreeDigitalPhotos.net.

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