Gary Becker on Free Banking

Journal of Libertarian Studies Volume 22 (2011): 437-470

34 Pages Posted: 30 Apr 2008 Last revised: 27 Apr 2017

Date Written: Spring 2008

Abstract

Gary Becker's paper about free banking written in 1956 was originally intended as a reaction to the 100-percent reserve proposals that were then popular at the University of Chicago. Today the original paper clearly illustrates how considerably our views and theories about free banking have evolved in the past 50 years. This development is to a considerable extent the result of the work and the writings of economists of the Austrian School. Pascal Salin is one of the most prominent members of the Austrian Free Banking School. In a new introduction to the 1956 paper written especially for the Festschrift in honor of Pascal Salin, Gary Becker partly repudiates and mitigates some of his previous conclusions. This event offers a fitting opportunity to review some developments in the theory of free banking and related issues and to add a few clarifications concerning the present "state of the art" as regards an acceptable and adequate concept of free banking.

Keywords: Free Banking, Monetary Regimes, Monetary Standards, Business Cycles

JEL Classification: E32, E42, E58

Suggested Citation

Van Den Hauwe, Ludwig, Gary Becker on Free Banking (Spring 2008). Journal of Libertarian Studies Volume 22 (2011): 437-470, Available at SSRN: https://ssrn.com/abstract=1126286

Ludwig Van Den Hauwe (Contact Author)

Université Paris Dauphine ( email )

Place du Maréchal de Tassigny
Paris, Cedex 16 75775
France

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
114
Abstract Views
1,162
Rank
435,891
PlumX Metrics