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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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Scottish Free Banking

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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Scottish free banking, gold, specie, free banking, Scottish banking system
Banking Regulation, Economic History, Free Banking

Scottish Banks and the Bank Restriction, 1797-1821, Part 2

George Selgin/October 31, 2018June 19, 2022

In my opening post about Scottish banks' suspension of specie payments, I explained that, although the suspension was technically illegal, it failed to provoke any lawsuits in part because it was no less in the interest of many Scottish citizens, and Scottish bank creditors especially, than it…

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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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Canadian banking system, free banking, scottish free banking, bank of canada
Banking Regulation, Free Banking, The Fed & Central Banks

Entry into Canadian Banking, 1870-1935

George Selgin/May 8, 2018June 19, 2022

As all dedicated Alt-M readers know, I am a big fan of the Canadian banking and monetary system that flourished between Canada's Confederation in 1867 and the outbreak of the First World War.  Besides thinking it was a darn good system, I also regard it as the…

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banking regulation, deregulation, Scottish Free Banking, misunderstanding financial crises, Dodd-Frank Act
Banking Regulation, Economic History, Free Banking

Is Bank Deregulation Dangerous?

George Selgin/January 23, 2018June 19, 2022

Among last week's news items that had colleagues asking me, "What's your answer to this?," was a piece by Quartz's John Detrixhe, telling its readers that, according to "300 years of financial history," rolling back bank regulations is a good way to trigger a financial meltdown. Though…

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Contributors

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  • Working Papers (7)

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About Us

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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