Download this Paper Open PDF in Browser

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

13 Pages Posted: 1 May 2011  

Anthony J. Evans

ESCP Europe; ESCP Europe - Department of Economics

Steven Horwitz

Ball State University

Date Written: 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.

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

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

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: https://ssrn.com/abstract=1826622 or http://dx.doi.org/10.2139/ssrn.1826622

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

Ball State University ( email )

Department of Economics
Ball State University
Muncie, IN 47306
United States
765 285 5384 (Phone)

Paper statistics

Downloads
260
Rank
98,749
Abstract Views
1,175