Free banking as a policy ideal is the result of applying the norms of classical liberalism to money and banking. Classical liberalism upholds individual liberty and private property rights, including freedom of contract, under the rule of law. It opposes rule by unconstrained authorities. Skipping over ancient…
Free bankers have been fighting a war on two fronts. On one they face champions of central banking and managed money. On the other they struggle against advocates of 100-percent reserve banking. Although the second front is a lot smaller than the first, it’s far from being…
My Free Banking posts will not be focused on the monetary policy aspects of ‘free banking,’ but rather on the other aspects of what I would call a ‘free-er banking’ environment going forward. I plan to focus not only on these non-monetary policy activities of central banks, but also…