Legislating instability: Adam Smith, free banking, and the financial crisis of 1722
From 1716 to 1845, the Scottish financial system functioned with no official central bank or lender of last resort, no public (or private) monopoly on currency issuance, no legal reserve requirements, and no formal limits on bank size. In support of previous research on Scottish “free banking,” I fi...
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| Format: | Book |
| Language: | English |
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Harvard University Press
2016
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