Footnote:
In: Journal of Libertarian Studies Volume 22 (2011): 437-470
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments Spring 2008 erstellt
Description:
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