Yesterday, I arrived from our "Vertieferseminar" in Hayingen-Anhausen (almost Manhatten for those who never have been there). It was pretty funny, at least for me, and we had some insightful discussions with our students. There are some remarks I want to make:
1) Here is a great paper written by Prof. Jörg G. Hülsmann: "Free banking and the free bankers." Review of Austrian Economics 9, No. 1, 1996, pages 3-54. I think the two types of Free-Banking-advocates become quite clear. And it becomes obvious that it is fallacious to advocate Free Banking apart from a 100% standard. But hey! This is just my point of view.
2) Here is a video with Murray N. Rothbard talking about the Founding of the FED. I guess there is a widespread myth about the market origin of the FED and fractional reserve banking in general. Rothbard has some good arguments that history took a very different path.
3) For those who prefer to read, here is Rothbard's The Origins of the Federal Reserve.
4) You still believe in the market origin of the current banking system? Well, then read Rothbard's A History of Money and Banking in the United States: The Colonial Era to Worldwar II. To fg: Yes, Rothbard - again! But you may read his stuff ... he has some good points.
5) To Mr. Topic 5 (we do not use names here): Too you I owe the insight that there are some courses on the history of banking at Hohenheim. I will visit them for sure. So thank you. If you are interested, this paper deals with the Myth of Free Banking in Scotland.
That's it ...
