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Mere Quibbles: Bagus and Howden's Critique of The Theory of Free Banking

George Selgin

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

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Date posted: April 2, 2011 ; Last revised: April 8, 2011

Suggested Citation

Selgin, George, Mere Quibbles: Bagus and Howden's Critique of The Theory of Free Banking (April 4, 2011). Available at SSRN: https://ssrn.com/abstract=1800813 or http://dx.doi.org/10.2139/ssrn.1800813

Contact Information

George Selgin (Contact Author)
The Cato Institute ( email )
1000 Massachusetts Ave. NW
Washington, DC 20001
United States
HOME PAGE: http://www.cato.org/centers/center-monetary-financial-alternatives
University of Georgia ( email )
Athens, GA 30602-6254
United States
706-542-2734 (Phone)
706-542-3376 (Fax)
HOME PAGE: http://www.terry.uga.edu/~selgin/
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