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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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Bank of England

scottish free banking, bank of england, Bank Restriction Act, specie, free banking
Economic History, Free Banking, Recommended Reading

Scottish Banks and the Bank Restriction, 1797-1821, Part 3

George Selgin/November 13, 2018June 19, 2022

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…

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free banking, Scottish free banking, banking regulation, Bank of England
Banking Regulation, Economic History, Free Banking

Scottish Banks and the Bank Restriction, 1797-1821, Part 1

George Selgin/October 9, 2018June 19, 2022

From the beginning, there is one embarrassing and evident fact that Professor White has to cope with: that "free" Scottish banks suspended specie payment when England did, in 1797, and, like England, maintained that suspension until 1821. Free banks are not supposed to be able to, or…

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Bank of England, central bank independence, Quantitative Easing, savings glut, ZIRP
Money & Politics, Recommended Reading, The Fed & Central Banks

Have Central Bankers "Lost the Plot?"

Kevin Dowd/November 1, 2016June 19, 2022

Recently, the UK Daily Telegraph ran a remarkable Op-Ed written by William Hague, the just-retired Conservative politician and former UK Foreign Secretary. The title alone was startling: “Central bankers have collectively lost the plot. They must raise interest rates or face their doom.” Now I confess that…

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Bank Capital, Bank of England, competition in banking, systemic risk, Too Big To Fail
Economic Thought, Free Banking, Money & Politics

Competition in (British) Banking

Tom Clougherty/May 6, 2016June 19, 2022

Writing for FT.com’s “The Exchange” blog, economists Diane Coyle and Jonathan Haskel suggest that Britain’s regulators — namely, the Competition and Markets Authority and the Bank of England — have got it wrong on competition in banking.  The authors argue that “the CMA and the BoE” have overlooked “the…

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Bank of England, capital requirements, financial instability, financial regulation, stress tests, leverage ratio
News, The Fed & Central Banks

The Bank of England Fails Its Stress Test, Again

Kevin Dowd/January 15, 2016June 19, 2022

On December 1, 2015, the Bank of England released the results of its second round of annual stress tests, which aim to measure the capital adequacy of the UK banking system.  This exercise is intended to function as a financial health check for the major UK banks,…

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Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

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