The Theory of Free Banking

George Selgin's 1988 book, The Theory of Free Banking: Money Supply under Competitive Note Issue, is now available on-line, free, at the Online Library of Liberty.

This development deserves loud applause, for this book is a major work contributing to our understanding not only of free banking, but of banking and money more generally.

(George completed the first draft of this book – which was his dissertation at NYU – when he and I shared an apartment during our first years as young assistant...