Yesterday morning, a Modern Monetary Theorist tweeted part of a 2017 interview he did with Warren Mosler, one of that school's leading proponents and benefactors. As the clip was titled "Against Free Banking: The Liability Side Isn't The Place For Market Discipline," yours truly couldn't resist a…
(Originally appeared on Alt-M on December 30, 2015) *** In this past summer’s controversy over whether Alexander Hamilton’s image should be replaced on the $10 bill, outraged commentators made many extravagant claims on behalf of Hamilton’s wisdom in matters of money and banking policy. For example, Ben…
A few months after my April 2018 Soho debate with him concerning whether fractional reserve banking is damaging to an economy's health, Bob Murphy gave a lecture on "Rothbardians vs. 'Free Bankers' on Fractional Reserve Banking." Bob devotes a substantial chunk of that lecture to elaborating upon…
After a successful inaugural offering in 2018, the Center for Monetary and Financial Alternatives at the Cato Institute is pleased to announce that Alternative Money University – our 3-day academic workshop for students interested in monetary economics – is coming back in July 2019. As followers of…
Having considered, in two previous essays, the origins, legality, and adverse consequences of the Scottish bank suspension, we're now ready to ask whether, and in what ways, that episode compels us to reconsider the virtues of free banking, both as practiced in Scotland and in general. If…