Unregulated Banking : Chaos or Order? (Paperback)--by Forrest Capie [2014 Edition] ISBN: 9781349114009

Using historical examples, this book attempts to demonstrate that unregulated banking can be successful and that central banks' beneficial contribution has been greatly exaggerated. Topics covered include a description of the experiment with free banking during the French Revolution. Front Matter....Pages i-xxiii Are Central Banks Necessary?....Pages 1-35 Banking without a Central Bank: Scotland before 1844 as a ‘Free Banking’ system....Pages 37-71 Lessons from the American Experience with Free Banking....Pages 73-129 Experiments with Free Banking during the French Revolution....Pages 131-157 The Evolution of Central Banking in England, 1821–90....Pages 159-205 Does Bank Regulation Produce Stability? Lessons from the United States....Pages 207-240 Back Matter....Pages 241-251