Free banking

La théorie du free banking est une approche de nombreux économistes qui observent, dans l'histoire économique, les expériences de gestion de la monnaie dans un système concurrentiel (Écosse, Nouvelle-Angleterre, Canada). Le premier économiste contemporain à avoir étudié le Free Banking est Henry Meulen. D'autres économistes, par l'intermédiaire de l'analyse économique présentent des systèmes de libre concurrence monétaire. Ces approches sont nées à partir du mouvement de la déréglementation bancaire aux États-Unis et aux critiques liée à la gestion douteuse des banques centrales durant la crise économique à partir des années 80.

Parmi les économistes sensibles à une application de la liberté bancaire, on compte des lauréats du Prix Nobel (Friedrich Hayek et Milton Friedman), aussi bien qu'Eugene Fama de l'université de Chicago, Neil Wallace de l'université du Minnesota, Leland Yeager de l'université d'Auburn, Benjamin Klein de l'UCLA, Robert Greenfield, Lawrence White de l'université du Missouri, George Selgin, Kevin Dowd.

Voir aussi

• Monnaie privée
• Banque libre
• Prêt bancaire
• Monnaie-promesse

Sources

• Lawrence White, Competing Money Supplies

De 1898 à 1979

• 1898, W. Brough, "Open Mints and Free Banking", New York, Putman

• 1934, Henry Meulen, "Free Banking, An Outline of a Policy Individualism. London: Macmillan

• 1936, Bray Hammond, "Free Banks and Corporations: The New York Free Banking Act of 1838", Journal of Political Economy, Vol 44, n°2, Apr., pp184-209

• 1974, Hugh Rockoff, "The Free Banking Era: A Reexamination", Journal of Money, Credit, and Banking, Vol 6, mai, pp141-168

• 1975, Hugh Rockoff, "The Free Banking Era: A Re-Examination", New York: Arno Press

• 1977, Roland Vaubel, "Free Currency Competition. Weltwirtschaftliches Archiv 112 (No. 3 1977): 435-459

De 1980 à 1989

• 1980, Roland Vaubel, "Currency Competition in Monetary History." Unpublished paper, presented at the Conference on "European Monetary Union and Currency Competition," Institutum Europaeum, Brussels, 1-2 Dec.

• 1982, Arthur J. Rolnick, Warren E. Weber, "Free banking, wildcat banking, and shinplasters", Federal Reserve Bank of Minneapolis, Quarterly Review, Fall, pp10–19

• 1983, Arthur J. Rolnick, Warren E. Weber, "New evidence on the free banking era", American Economic Review, Vol 73, pp1080–1091

• 1984,
  • Arthur J. Rolnick, Warren E. Weber, "The causes of free bank failures: A detailed examination", Journal of Monetary Economics, Vol 14, n°3, November, pp267-291
  • Lawrence White, "Free Banking in Britain", Cambridge: Cambridge University Press

• 1985,
  • G. Gorton, "Banking theory and free banking history: a review essay", Journal of Monetary Economics, 16 (2), September, pp267–276
  • J. A. Kahn, "Another look at free banking in the United States", American Economic Review, Vol 75, pp881–885
  • A. J. Rolnick, W. E. Weber, "Banking instability and regulation in the US free banking era", Federal Reserve Bank of Minneapolis Quarterly Review, Summer, pp2–9
  • Hugh Rockoff, "New Evidence on Free Banking in the United States", The American Economic Review, Vol 75, n°4, Sep., pp886-889
  • Donald R. Wells et L. S. Scruggs, “The Free Banking Alternative”, The Freeman, Vol 35, Février, pp98-103

• 1986,
  • Hugh Rockoff, “Institutional Requirements for Stable Free Banking”, Cato Journal, Vol 6, n°2, pp617–634
  • A. J. Rolnick, W. E. Weber, "Inherent instability in banking: the free banking experience", Cato Journal, Vol 5, Winter, pp877–890
  • Roland Vaubel, "Currency Competition versus Governmental Money Monopolies", Cato Journal, Winter, pp927—42
  • Donald Wells, L. S. Scruggs, "Toward Free Banking", The Freeman, Juillet
    • Repris en 1993, "Toward Free Banking", In: Hans Sennholz, dir., "Bankers and Regulators". Irvington-on-Hudson, NY : Foundation for Economic Education, pp156-166

• 1987, George Selgin et Lawrence H. White, "The Evolution of a Free Banking System", Economic Inquiry, 25(3), pp439-457

• 1988,
  • A. J. Economopoulos, "‘Illinois’ free banking experience", Journal of Money, Credit, and Banking, Vol 20, pp249–264
  • K. Ng, "Free banking laws and barriers to entry in banking, 1838–1860", Journal of Economic History, Vol 48, pp877–889
  • Kurt Schuler, "Free banking", Humane Studies Review, Fall, Vol 1, pp5–11

• 1989,
  • C. F. Christ, "On free banking"’, Market Process, vol 7, n°1, Spring, pp5–10
  • David Glasner, "Free Banking and Monetary Reform", Cambridge University Press
  • Murray Rothbard, "The other side of the coin: free banking in Chile", Austrian Economics Newsletter, Winter, pp1–4
  • D. R. Wells, "The free banking model applied to pre–1914 Canadian banking", Studies in Economic Analysis, 12(2), Fall, pp3–21

De 1990 à 1999

• 1990,
  • H. Bodenhorn, "Entry, rivalry and free banking in antebellum America", The Review of Economics and Statistics, Vol 72, n°4, pp682-686
  • R. Salsman, "Breaking the Banks: Central Banking Problems and Free Banking Solutions", Great Barrington, Mass.: American institute for Economic Research
  • George Selgin, "Short-changed in Chile: the truth about the free-banking episode", Austrian Economics Newsletter, Vol 11, n°1, p5
  • E. N. White, "Free banking during the French Revolution", Explorations in Economic History, Vol 27, n°3, July, pp251–276
  • E. N. White, "Free banking, denominational restrictions, and liability insurance", paper presented to the Durell Foundation conference, Money and Banking: The American Experience, Washington, DC, May

• 1991, Annelise Anderson, Free Banking Can Solve the Ruble Problem, Wall Street Journal Europe, 16 octobre

• 1992,
  • Howard Bodenhorn, "Free banking in Ireland", In: Kevin Dowd, dir., "The Experience of Free Banking", London, Routledge, pp137-156
    • Repris en 2023, "Free banking in Ireland", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp172-191
  • Kevin Dowd, dir., "The Experience of Free Banking", London and New York: Routledge
  • Kevin Dowd, "US banking in the ‘free banking’ period", In: Kevin Dowd, dir., "The Experience of Free Banking", London, Routledge, pp206-240
    • Repris en 2023, "US banking in the ‘free banking’ period", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp332-363
  • Adolfo Meisel, "Free banking in Colombia", In: Kevin Dowd, dir., "The Experience of Free Banking", London, Routledge, pp93-102
    • Repris en 2023, "Free banking in Colombia", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp129-137
  • Philippe Nataf, "Free banking in France (1796–1803)", In: Kevin Dowd, dir., "The Experience of Free Banking", London, Routledge, pp123-136
    • Repris en 2023, "Free banking in France (1796–1803)", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp157-171
  • M. Neldner, "The experience of Free Banking", Review of World Economics, 128(4), pp749-756
  • Kurt Schuler, "The world history of free banking: an overview", In: Kevin Dowd, dir., "The Experience of Free Banking", London, Routledge, pp7-47
    • Repris en 2023, "The world history of free banking: an overview", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp13-49
  • Kurt Schuler, "Free banking in Canada", In: Kevin Dowd, dir., "The Experience of Free Banking", London, Routledge, pp79-92
    • Repris en 2023, "Free banking in Canada", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp99-113
  • George Selgin, "Free banking in Foochow", In: Kevin Dowd, dir., "The Experience of Free Banking", London, Routledge, pp103-122
    • Repris en 2023, "Free banking in Foochow", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp138-156
  • Ernst Juerg Weber, "Free banking in Switzerland after the liberal revolutions in the nineteenth century", In: Kevin Dowd, dir., "The Experience of Free Banking", London, Routledge, pp187-205
    • Repris en 2023, "Free banking in Switzerland after the liberal revolutions in the nineteenth century", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp314-331
  • Lawrence White, "Mises on Free Banking and Fractional Reserves", In: John W. Robbins et Mark Spangler, dir., "A Man of Principle – Essays in Honor of Hans F. Sennholz", Grove City College Press, pp517-529
  • Lawrence White, "Free banking and the Gold Standard", In: Lew Rockwell, dir., "The Gold Standard", Auburn: Ludwig von Mises Institute, pp113-128
  • Lawrence White, "Free banking in Scotland before 1844", In: Kevin Dowd, dir., "The Experience of Free Banking", London, Routledge, pp157-186
    • Repris en 2023, "Free banking in Scotland before 1844", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp256-284

• 1993,
  • Annelise Anderson, "The Ruble Problem: A Competitive Solution", Cato Journal, 12 (3), Winter, pp633—49
  • Larry Sechrest, "Free Banking: Theory, History, and a Laissez-faire Model", Westport, CT: Quorum Books

• 1994,
  • M. C. Gómez, "Free banking en Argentina", Libertas, Vol XI, pp39–110
  • Charles Goodhart, "The Free Banking Challenge to Central Banks", Critical Review, Vol 8, pp411–425
  • Steven Horwitz, "Misreading the "myth" Rothbard on the theory and history of free banking", In: Peter Boettke, David L. Prychitko, "The Market Process: Essays in Contemporary Austrian Economics", Aldershot, UK: Edward Elgar, pp166-178
  • George Selgin, "Free banking and economic control", Economic Journal, 104 (427), pp1449–1459

• 1995, David Glasner, "Free Banking and Economic Development. Competing Banks Should Be Free to Supply Any Monetary Instrument", The Freeman, Juillet

• 1996,
  • Howard Bodenhorn, Michael Haupert, "The Note Issue Paradox in the Free Banking Era", The Journal of Economic History, Vol 56, n°3, Sep., pp687-693
  • K. H. Chu, "Is free banking more prone to bank failures than regulated banking?", Cato Journal, Vol 16, pp47–61
  • M. Neldner, "Bankenfreiheit und Noten-Übere mission. McCulloch, Longfield, der Schweizer Franken und die ‘small note mania’ in Schottland" ("Les banques libres et la mission d'impression des billets de banque. McCulloch, Longfield, le franc suisse et la « manie des petites coupures" en Écosse), Schweizerische Zeitschrift für Volkswirtschaft und Statistik, 132(2), pp177-195
  • M. Neldner, "Schweizerische Notenbanken im 19. Jahrhundert und Free Banking: Eine Erwiderung" (Les banques suisses au 19ème siècle et la banque libre : une réponse"), Schweizerische Zeitschrift für Volkswirtschaft und Statistik, 132(2), pp203-206
  • F. Ritzmann, "Schweizerische Notenbanken im 19. Jahrhundert und Free Banking: Diskussionsbeitrag zu M. Neldner. Bankenfreiheit und Noten-Überemission" ("Les banques suisses au 19ème siècle et les banques libres : contribution à la discussion sur la banque libre de M. Neldner et sur l'émission excessive des billets de banque"), Schweizerische Zeitschrift für Volkswirtschaft und Statistik, 132(2), pp197-201

• 1997,
  • Philippe Nataf, "Free banking", In: David Glasner, Thomas F. Cooley, dir., "Business Cycles and Depressions: An Encyclopedia", New York: Garland Publishing, Inc., pp245-247
  • Parth J. Shah, The Option Clause in Free-Banking Theory and History: A Reappraisal, The Review of Austrian Economics, vol. 10, no. 2, pp1-25

• 1998,
  • Howard Bodenhorn, "Free Banking and Financial Entrepreneurship in Nineteenth-Century New York: The Blank River Bank of Watertown", Business and Economic History, Vol 27, n°1, fall
  • M. Neldner, "Lessons from the free banking era in Switzerland: The law of adverse clearings and the role of non-issuing credit banks", European Review of Economic History, 2, pp289-308

• 1999,
  • Bettina Bien Greaves, "Market Money and Free Banking", The Freeman: Ideas on Liberty, October, Vol 49, n°10
  • Gary Gorton, "Pricing free bank notes", Journal of Monetary Economics, Vol 44, n°1, August, pp33-64

De 2000 à 2009

• 2002, C. R. Hickson, J. D. Turner, "Free banking gone awry: the Australian banking crisis of 1893", Financial History Review, Vol 9, pp147–167

• 2003, M. Neldner, "Competition Necessarily Tends to Produce Excess: The Experience of Free Banking in Switzerland", German Economic Review, 4(3), pp389-408

• 2004, C. R. Hickson et J. D. Turner, "Free banking and the stability of early joint-stock banking", Cambridge Journal of Economics, 28(6), pp903-919

• 2005,
  • Ignacio Briones, Hugh Rockoff, "Do Economists Reach a Conclusion on Free-Banking Episodes", Economic Journal Watch, Vol 2, n°2, August, pp279-324
  • Richard Ebeling, "Government, Fiscal Responsibility, and Free Banking", The Freeman, Janvier/Février, Vol 55, n°1

• 2006,
  • Ludwig van den Hauwe, The Uneasy Case for Fractional-Reserve Free Banking, Procesos de Mercado - Revista Europea de Economía Política, Vol. III, No. 2, pp143-96
  • David Laidler, "Free banking and the Bank of Canada", Bank of Canada Review, Winter, pp15–24
  • A. Ögren, "Free or central banking? Liquidity and financial deepening in Sweden, 1834-1913", Explorations in Economic History, 43(1), pp64-93

• 2008, Cyriac Poupinel de Valencé, Monnaie et banque - théorie de la banque libre, archives Contrepoints, mardi 22 avril 2008

• 2009, Rafael Hotz, Considerations on Fractional Reserve Banking and Free-Banking, Procesos de Mercado: Revista Europea de Economía Política, Vol. VI, n°2, Otoño, pp203-215

De 2010 à 2019

• 2012, Nicolás Cachanosky, "The law of national guaranteed banks in Argentina, 1887–1890: free-banking failure or regulatory failure?", Independent Review, Vol 16, pp569–590

• 2013, P. Ager, F. Spargoli, "Bank deregulation, competition and economic growth: The US free banking experience", n°13-210/IV/DSF69, Amsterdam: Tinbergen Institute

• 2014, Alexander Fink, "Free banking as an evolving system: the case of Switzerland reconsidered", Review of Austrian Economics, 27 (1), pp57–69

• 2023,
  • Juan Pablo Couyoumdjian, "Free banking in Chile", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp114-128
  • Thomas R. Gottschang, "Free banking in early twentieth-century northeast China", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp218-234
  • Lars Jonung, "Free banking in Sweden", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp285-313
  • Patrick Mardini, Kurt Schuller, "Free banking in Belgium, 1835–50", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp81-98
  • Alberto Mingardi, "Competitive note issue in Italy, 1860–93", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp192-217
  • Luis Felipe Zegarra, "Free banking in Peru", In: Kevin Dowd, dir., "The Experience of Free Banking", London, The Institute of economic affairs, pp235-255

Liens externes

• (fr)L’histoire mondiale de la banque libre
• (en)"Money demand under free banking: Switzerland 1851-1906", texte de S. Gerlach, P. Kugler, publié en 2015, CEPR Discussion Papers, n°11029

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