Review of Essays in History: Financial, Economic, Personal By Charles Kindleberger

Abstract

This paper reviews a collection of essays by Charles Kindleberger. After a quick overview of the contents of the volume, the paper criticizes the position advanced by Kindleberger that monetary policy should seek to counteract asset price inflation. The review also discusses critically Kindleberger’s negative assessment, based on the long history of currency debasement by the various local mints that were authorized to operate during the Holy Roman Empire, of free banking and free banking theory.

Keywords: Kindleberger, monetary policy, asset price inflation, currency debasement, free banking

JEL Classification: B2, E5, N1, N2