On not doing due diligence: Bagus and Howden on free banking
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- 作者：Anthony J. Evans (1) anthonyjevans@gmail.com
Steven Horwitz (2) shorwitz@stlawu.edu - 关键词：Business cycles – ; Central banking – ; Free banking – ; Monetary equilibrium
- 刊名：The Review of Austrian Economics
- 出版时间：June 2012
- 出版年：2012
- 期刊代码：27_08893047
- 类别：edu
- 卷：25
- 期：2
- 页码：149-157
- 数据来源：sp
摘要
In their recent article in the Quarterly Journal of Austrian Economics, Bagus and Howden (2010) present “quibbles” with fractional-reserve free banking. Specifically, they raise what they call “unaddressed issues” in this system, with a particular emphasis on Selgin (1988). We deem their arguments to be more substantial than “quibbles” and see them as part of a longstanding debate about fundamental aspects of monetary theory. We respond to their objections and attempt to specify how debate between the two sides might proceed more productively.