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The Rationale of Central Banking: And the Free Banking Alternative
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The rationale of central banks was first published in England in 1936 as discussed by the authors and was translated into English by Wilhelm Ropke, Oskar Morgenstern, and Fritz Machlup.Abstract:
THE RATIONALE OF CENTRAL BANKING was first published in England in 1936. Vera Smith spent her professional career in a variety of research positions. She wrote articles and books on money, banking, economic development, and the labor market and translated into English books by Wilhelm Ropke, Oskar Morgenstern, and Fritz Machlup. This book provides a scholarly review and judicious assessments of the experience and theory that bear on the issues of free banking and central banking. Its wide-ranging discussion identifies both the fallacies in the arguments for central banks and the influential fallacies in the arguments against free banking. Vera Smith's work should play a prominent role in any reappraisal of our monetary institutions.read more
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Perspectives on the Global Financial Crisis From Emerging Managers and Public Policy Makers [Full Version]
TL;DR: The current global crisis began as a bubble burst of the mortgage market in the United States that spilled over to the entire financial market of the US, and afterwards onto the integrated World financial market as mentioned in this paper.
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Government-Cheerleading Bias in Money and Banking Textbooks
TL;DR: This paper examined the six textbooks most commonly adopted in U.S. undergraduate money and banking courses for how they describe the influences that commercial banks and central banks have on macroeconomic stability and found that the textbook presentations are incomplete in a way that systematically favors one view in the literature over another, making a government-cheerleading bias.
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Monetary Constitutionalism: Some Recent Developments
TL;DR: The volume edited by Leland Yeager more than 50 years ago and published in 1962 under the title In Search of a Monetary Constitution has turned out to be remarkably prescient since the Great Inflation was then about to begin this article.
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Governing the Financial System: A Theory of Financial Resilience
TL;DR: In this paper, the authors develop a theory of financial stability based on insights from the literature on polycentric governance and institutional resilience, and conclude that bottom-up approaches to financial stability are institutionally resilient; top-down approaches are not.