Bank Deregulation & Monetary Order

George Selgin

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English

Routledge
07 November 1996

Monetary economics; Banking

Series: Routledge International Studies in Money and Banking

"Can the ""invisible hand"" handle money? In this collection of essays George Selgin challenges the view that government regulation creates monetary order and stability, and instead shows it to be the main source of monetary crisis. The volume is divided into three sections. Part one refutes conventional wisdom holding that any monetary system lacking government regulation is ""inherently unstable"", and looks at the workings of market forces in an otherwise unregulated banking system. Part two draws on both theory and historical experience to show how various kinds of government interference undermine the inherent efficiency, safety, and stability of a free monetary system. Part three completes the argument that government regulation is unsound unless it delivers a stable output price-level."

By: George Selgin
Imprint: Routledge
Country of Publication: United Kingdom
Volume: v.2
Dimensions: Height: 234mm, Width: 156mm, Spine: 18mm
Weight: 710g
ISBN: 9780415140560
ISBN 10: 0415140560
Series: Routledge International Studies in Money and Banking
Pages: 300
Publication Date: 07 November 1996
Audience: College/higher education , A / AS level , Further / Higher Education
Format: Hardback
Publisher's Status: Active

INTRODUCTION Part I The nature of free banking 1 HOW WOULD THE INVISIBLE HAND HANDLE MONEY? (with Lawrence H.White) 2 THE EVOLUTION OF A FREE BANKING SYSTEM (with Lawrence H.White) 3 THE RATIONALIZATION OF CENTRAL BANKS Part II Macroeconomic consequences of deregulation 4 THE STABILITY AND EFFICIENCY OF MONEY SUPPLY UNDER FREE BANKING 5 COMMERCIAL BANKS AS PURE INTERMEDIARIES Between “old” and “new” views 6 FREE BANKING AND MONETARY CONTROL 7 MONETARY EQUILIBRIUM AND THE PRODUCTIVITY NORM OF PRICE-LEVEL POLICY 8 THE “PRODUCTIVITY NORM” VERSUS ZERO INFLATION IN THE HISTORY OF ECONOMIC THOUGHT Part III The regulatory sources of monetary disorder 9 ARE BANKING CRISES FREE-MARKET PHENOMENA? 10 LEGAL RESTRICTIONS, FINANCIAL WEAKENING, AND THE LENDER OF LAST RESORT 11 IN DEFENSE OF BANK SUSPENSION 2 BANK-LENDING “MANIAS” IN THEORY AND HISTORY

George Selgin is Associate Professor of Economics at the University of Georgia