- Paperback: 260 pages
- Publisher: New York University Press (1 Feb 1992)
- Language English
- ISBN-10: 0814792472
- ISBN-13: 978-0814792476
- Product Dimensions: 2.3 x 1.5 x 0.2 cm
- Average Customer Review: 5.0 out of 5 stars See all reviews (1 customer review)
- Amazon Bestsellers Rank: 1,488,742 in Books (See Top 100 in Books)
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"Zuckerman has mined Belgium's archives to depict a German occupation that presaged the Nazi era. He illustrates how the falsity of the most lurid atrocity accounts rendered public opinion dubious or indifferent to the real "rape of Belgium," and thus allowed Germany to escape accountability for its crimes." -"CHOICE",
Product Description
Lawrence White argues that open competition among private firms could provide a monetary system better than that currently provided by state monopolized central banks. White indicates how monetary uncertainty is brought on by cycles of inflation and disinflation inherent in the system. He develops a model showing free banking to ba a stable system for providing money, and critically dissects the view of many economists that government involvement in money and banking is somehow a "natural monopoly" or "public good". Furthermore, White investigates the evolutionary and institutional consequences of laissez-faire in the payments system, exploring the plausibility of a world without money, or a world where all currency pays interest.
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Customer Reviews
Most Helpful Customer Reviews
4 of 4 people found the following review helpful
Format:Paperback
This book lies in a tradition of the anti-monopoly critique of central banking alongside writers in the Austrian tradition as well as others who believe in the efficacy of competitive market situations.
White displays a wide knowledge of the literature on private monies and explores the varying aspects of what a competitive currency situation would look like.
As Shiela Dow acknowledges in her endorsement of this book, this is the place to begin in the unorthodox views which are put forward. I have no hesitation in highly recommending this book almost sixteen years after it was originally published especiall given the contemporary situation which the US currently finds itself in with a weak dollar, a last resort tool of a government intent on keeping competitive pressures on sections of the US economy when it has run out of ideas and instruments.
My comments are really concerned with what should follow, that is a study or studies on how a transition to competing currencies would manifest itself from current conditions. What institutional arrangements would be required to allow the alternate system to develop without being stillborn and how that transition would be managed. Clearly the implications of private monies would require considerable education of the average citizen and inparticular with regard to the degree of risk involved which would be initially high before being reduced as competitive pressures grew.
Another aspect of this which ought to be considered is one where competing existing currencies would be allowed along the lines proposed by the Major Government in Britain, prior to an examination of how competing private currencies would be allowed to exist in an international monetary system
This book is certainly providing a firm academic foundation to proceed from and one which will hopefully lead to a full and productive inquiry into how this can be made to happen.
White displays a wide knowledge of the literature on private monies and explores the varying aspects of what a competitive currency situation would look like.
As Shiela Dow acknowledges in her endorsement of this book, this is the place to begin in the unorthodox views which are put forward. I have no hesitation in highly recommending this book almost sixteen years after it was originally published especiall given the contemporary situation which the US currently finds itself in with a weak dollar, a last resort tool of a government intent on keeping competitive pressures on sections of the US economy when it has run out of ideas and instruments.
My comments are really concerned with what should follow, that is a study or studies on how a transition to competing currencies would manifest itself from current conditions. What institutional arrangements would be required to allow the alternate system to develop without being stillborn and how that transition would be managed. Clearly the implications of private monies would require considerable education of the average citizen and inparticular with regard to the degree of risk involved which would be initially high before being reduced as competitive pressures grew.
Another aspect of this which ought to be considered is one where competing existing currencies would be allowed along the lines proposed by the Major Government in Britain, prior to an examination of how competing private currencies would be allowed to exist in an international monetary system
This book is certainly providing a firm academic foundation to proceed from and one which will hopefully lead to a full and productive inquiry into how this can be made to happen.
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
2 reviews
4 of 5 people found the following review helpful
Laissez-Faire Free Banking
25 Dec 2008
Format:Paperback
Dr. Lawrence H. White is the leading authority on free banking and the reprivatization of money. His work is a great contribution to the literature on free markets and libertarianism. Even libertarians don't understand the importance of a free banking system and non-governmental competing currencies.
White writes in the Austrian tradition, but his work is not as utopian as Rothbard's. Nobody offers a better critique of central banking (the Federal Reserve) than Lawrence White. White not only talks about the theory and history of currencies, he presents a picture of how private competitive currencies would work in the real world.
If you have any interest in free banking, I highly recommend this book.
Michael Beitler, Ph.D.
Host of "Free Markets With Dr. Mike Beitler"
Author of "Rational Individualism" Rational Individualism: A Moral Argument for Limited Government & Capitalism
White writes in the Austrian tradition, but his work is not as utopian as Rothbard's. Nobody offers a better critique of central banking (the Federal Reserve) than Lawrence White. White not only talks about the theory and history of currencies, he presents a picture of how private competitive currencies would work in the real world.
If you have any interest in free banking, I highly recommend this book.
Michael Beitler, Ph.D.
Host of "Free Markets With Dr. Mike Beitler"
Author of "Rational Individualism" Rational Individualism: A Moral Argument for Limited Government & Capitalism
2 of 3 people found the following review helpful
You never give me your money, you only give me your funny paper
23 May 2008
Format:Paperback
This book lies in a tradition of the anti-monopoly critique of central banking alongside writers in the Austrian tradition as well as others who believe in the efficacy of competitive market situations.
White displays a wide knowledge of the literature on private monies and explores the varying aspects of what a competitive currency situation would look like.
As Shiela Dow acknowledges in her endorsement of this book, this is the place to begin in the unorthodox views which are put forward. I have no hesitation in highly recommending this book almost sixteen years after it was originally published especiall given the contemporary situation which the US currently finds itself in with a weak dollar, a last resort tool of a government intent on keeping competitive pressures on sections of the US economy when it has run out of ideas and instruments.
My comments are really concerned with what should follow, that is a study or studies on how a transition to competing currencies would manifest itself from current conditions. What institutional arrangements would be required to allow the alternate system to develop without being stillborn and how that transition would be managed. Clearly the implications of private monies would require considerable education of the average citizen and inparticular with regard to the degree of risk involved which would be initially high before being reduced as competitive pressures grew.
Another aspect of this which ought to be considered is one where competing existing currencies would be allowed along the lines proposed by the Major Government in Britain, prior to an examination of how competing private currencies would be allowed to exist in an international monetary system
This book is certainly providing a firm academic foundation to proceed from and one which will hopefully lead to a full and productive inquiry into how this can be made to happen.
White displays a wide knowledge of the literature on private monies and explores the varying aspects of what a competitive currency situation would look like.
As Shiela Dow acknowledges in her endorsement of this book, this is the place to begin in the unorthodox views which are put forward. I have no hesitation in highly recommending this book almost sixteen years after it was originally published especiall given the contemporary situation which the US currently finds itself in with a weak dollar, a last resort tool of a government intent on keeping competitive pressures on sections of the US economy when it has run out of ideas and instruments.
My comments are really concerned with what should follow, that is a study or studies on how a transition to competing currencies would manifest itself from current conditions. What institutional arrangements would be required to allow the alternate system to develop without being stillborn and how that transition would be managed. Clearly the implications of private monies would require considerable education of the average citizen and inparticular with regard to the degree of risk involved which would be initially high before being reduced as competitive pressures grew.
Another aspect of this which ought to be considered is one where competing existing currencies would be allowed along the lines proposed by the Major Government in Britain, prior to an examination of how competing private currencies would be allowed to exist in an international monetary system
This book is certainly providing a firm academic foundation to proceed from and one which will hopefully lead to a full and productive inquiry into how this can be made to happen.
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