Mere Quibbles: Bagus and Howden's Critique of The Theory of Free Banking
26 Pages Posted: 2 Apr 2011 Last revised: 8 Apr 2011
Date Written: 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.
Keywords: free banking, fractional reserves, Austrian theory of the business cycle
JEL Classification: E31, E32, E41, E42, G21
Suggested Citation: Suggested Citation