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BANK ON IT

机译:依靠它

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摘要

Historical monetary systems that are classified properly as free banking systems, in economist Kevin Dowd's words, have involved "at least a certain amount of bank freedom, multiple note issuers, and the absence of any government-sponsored 'lender of last resort.'" There were more than 60 episodes around the world of plural private currency issue in the 19th century. Dowd has compiled studies of nine of these episodes, and Ignacio Briones (professor in the School of Business at Chile's Adolfo Ibanez University) and Hugh Rockoff (professor in the Department of Economics at New Jersey's Rutgers University) have surveyed economists' assessments of six relatively well-studied episodes: Scotland, the U.S., Canada, Sweden, Switzerland, and Chile. Because none of the six systems they review enjoyed complete freedom from legal restrictions, they suggest that "lightly regulated banking" is a more accurate label than "free banking." All of these 19th-century episodes had another feature worth mentioning: banknotes and deposits were denominated in, and redeemable for, silver or gold coins.
机译:用经济学家凯文·多德(Kevin Dowd)的话说,被正确分类为自由银行体系的历史货币体系涉及“至少一定程度的银行自由,多个票据发行人,以及没有政府资助的'最后贷款人'。”在19世纪,全世界有60多次复数私人货币发行。陶德(Dowd)已对其中的九个事件进行了研究,伊格纳西奥·布里昂内斯(Ignacio Briones)(智利阿道夫·伊瓦涅斯大学商学院教授)和休·洛克夫(新泽西州罗格斯大学经济学系教授)对经济学家对六种相对相对的评估进行了调查经过精心研究的剧集:苏格兰,美国,加拿大,瑞典,瑞士和智利。因为他们所审查的六个系统中没有一个完全不受法律限制,所以他们建议“轻度管制的银行”比“自由银行”更准确。所有这些19世纪的情节都具有另一个值得一提的特征:纸币和存款都以银币或金币为单位计价和赎回。

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  • 来源
    《USA today》 |2015年第2846期|40-41|共2页
  • 作者

    Lawrence H. White;

  • 作者单位

    George Mason University;

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  • 原文格式 PDF
  • 正文语种 eng
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