Monetary Evolution, Free Banking, And Economic Order (Studies in the History, Methods, and Boundaries of Economics)

Developing the insights of Hayek and others of the Austrian tradition, Professor Horwitz takes an evolutionary approach to money and banking, arguing that an appreciation of the spontaneous processes that produce and maintain our monetary institutions should make us sceptical of attempts to plan or regulate the production of money. Of special interest are his argument for a completely deregulated "free banking" system and what amounts to a revisionist history of the end of the National Banking System and the origins of the Federal Reserve system.