The Case of Free Banking

Mike Tsionas

Chapter Chapter 14 in The Euro and International Financial Stability, 2014, pp 79-84 from Springer

Abstract: Abstract In the Austrian school’s tradition, the commercial banks should be free to issue currency, exactly as the government does since the objective is to limit the monopoly of the government or an European central bank on money. Currency competition is the way to eliminate most of these currencies in favor of a few, or even a single one, in the long, provided this currency is stable enough to accommodate the plans of private agents.

Keywords: Interest Rate; Commercial Bank; Banking Sector; European Central Bank; Credit Market (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:fimchp:978-3-319-01171-4_14

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DOI: 10.1007/978-3-319-01171-4_14

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