Monetary Freedom and Liberal Order


By reading the main theoretical contributions by Lawrence White, George Selgin, Tyler Cowen, and obviously Milton Friedman, along with some historical articles, conferees delved deeper into the subject of free banking to compare and contrast the different points of view on the subject. Is free banking an artifact of the past, something replaced by a more superior central banking system, or does free banking hold an important place in the quest for liberty?


Conference Readings

Cowen, Tyler and Randall Kroszner. Explorations in the New Monetary Economics. Cambridge: Blackwell Publishers, 1994.

Friedman, Milton and Anna J. Schwartz. “Has the Government Any Role in Money?” Journal of Monetary Economics 17 (1986): 37-62.

Law, John, “General Idea of the New System of Finances” In Commerce, Culture, and Liberty, Indianapolis: Liberty Fund, 2003. 180-192.

Selgin, George. The Theory of Free Banking: Money Supply Under Competitive Issue. Lanham, MD: Rowan and Littlefield, 1988.

Timberlake, Richard H. Monetary Policy in the United States: An Intellectual and Institutional History. Chicago and London: University of Chicago Press, 1993.

White, Lawrence H. Free Banking in Britain. London: Institute of Economic Affairs, 1995.

Witherspoon, John. The Works of the Rev. John Witherspoon: Late President of the College at Princeton, New Jersey. Harrisonburg: Sprinkle Publications, 2006.