Mere Quibbles: Bagus and Howden's Critique of The Theory of Free Banking
The Cato Institute; University of Georgia
April 4, 2011
Despite its title, Philipp Bagus and David Howden's critique of The Theory of Free Banking does more than merely "quibble" with that book's arguments: their criticisms of those arguments are such as to suggest that the very foundation upon which my defense of free banking rests is deeply flawed. Here I defend my work against Bagus and Howden's criticisms, by showing that they rest upon careless or disingenuous readings of my arguments and a poor grasp of basic monetary economics.
Number of Pages in PDF File: 26
Keywords: free banking, fractional reserves, Austrian theory of the business cycle
JEL Classification: E31, E32, E41, E42, G21
Date posted: April 2, 2011 ; Last revised: April 8, 2011
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