Competing monetary rules: modern free banking possibilities

With the emergence of new digital currencies and, in particular, crypto-currencies (the most prominent of which, being Bitcoin), one can wonder how different Free Banking might look in the modern economy. In the past, monetary rules had been based on metallic content. Now, they are often focused on inflation-targeting, nominal-GDP targeting and so on. Though […]

Dollarisation in Ecuador

Over at the free banking blog, Larry White has a very interesting post on dollarization in Ecuador. He outlines the history of the dollar in Ecuador and rehearses some of the key arguments in favour of free banking, and against its critics. The dollarization of Ecuador was not chosen by policy-makers. It was chosen by […]

Free banking in 19th century Switzerland

RePEc is a wonderful service, provided like the fantastically useful FRED by the Federal Reserve Bank of St. Louis. It has feeds on twitter and via RSS, which are one of the best ways of keeping up with new research papers on economics, provided as full pdf files—all for free. Occasionally, their feeds deliver older papers, which […]

An independent Scotland should use the pound without permission from rUK, says new ASI report

Today the Adam Smith Institute has released a new paper: “Quids In: How sterlingization and free banking could help Scotland flourish”, written by Research Director of the Adam Smith Institute, Sam Bowman. Below is a condensed version of the press release; a full version of the press release can be found here. An independent Scotland […]

Regulation seems to cause bank crises, not prevent them

City AM’s Pete Spence (formerly of this parish) reminded me of Mark Carney’s claims in January that free banking systems are more unstable than regulated ones. I’m not so sure. Take a look at these two charts from George Selgin’s Are Banking Crises Free-Market Phenomena?, which mark an x for every instance of a banking panic. […]