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Competition and Currency: Essays on Free Banking and Money
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Competition and Currency: Essays on Free Banking and Money

4.4 of 5 stars 4.40  ·  rating details  ·  10 ratings  ·  2 reviews
"Lawrence H. White deals with a major issue of the 1990sreprivatization of money. He makes a cogent argument and presents evidence that private, competing currencies would provide more monetary stability than do central banks. Surprisingly enough, modern private money may emerge first in Eastern Europe, where the gap between the economy's need and the government's money is ...more
Paperback, 270 pages
Published February 1st 1992 by New York University Press (first published November 1st 1989)
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Fine middle-high brow introduction to free banking. This is a collection of published papers, but there is very little math. You will still have problems following it unless you have completed a full econ minor and are very familiar with banking.

I most enjoyed "Fix of Float? The International Monetary Dilemma" and "The Evolution of a Free Banking System." I was less thrilled with the constant public choice harping and the bizarrely essentialist chapter, "A Subjectivist Perspective on the Definit
I want to give this book five stars but the outdated material holds me back. It is a wonderful read and, ultimately, it has really changed my opinion on 100% reserve banking to free banking. If you're going to read this, I'd suggest reading about monetary economics, some kind of introduction, because it is certainly not for just beginners (as I found out unfortunately). All-in-all, though, it is definitely a book worth reading.
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