Abstract

http://ssrn.com/abstract=1826622
 
 

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An Appeal for Better Scholarly Discourse: How Bagus and Howden Have it Wrong on Free Banking


Anthony J. Evans


ESCP Europe; ESCP Europe - Department of Economics

Steven Horwitz


St. Lawrence University

April 30, 2011


Abstract:     
In their recent article in the Quarterly Journal of Austrian Economics, Bagus and Howden (2010) present “quibbles” with fractional reserve free banking. Or specifically, 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 are 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.

Number of Pages in PDF File: 13

Keywords: business cycles, central banking, free banking, monetary equilibrium

JEL Classification: B53, E31, E32, E41, E42, E51, G21

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Date posted: May 1, 2011  

Suggested Citation

Evans, Anthony J. and Horwitz, Steven, An Appeal for Better Scholarly Discourse: How Bagus and Howden Have it Wrong on Free Banking (April 30, 2011). Available at SSRN: http://ssrn.com/abstract=1826622 or http://dx.doi.org/10.2139/ssrn.1826622

Contact Information

Anthony J. Evans (Contact Author)
ESCP Europe ( email )
79 Avenue de la Republique
Paris, 75011
France
HOME PAGE: http://anthonyjevans.com
ESCP Europe - Department of Economics ( email )
United Kingdom
HOME PAGE: http://anthonyjevans.com
Steven Horwitz
St. Lawrence University ( email )
One Romoda Drive
Canton, NY 13617
United States
315 229 5731 (Phone)
315 229 5819 (Fax)
HOME PAGE: http://myslu.stlawu.edu/~shorwitz
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