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Legislating instability : Adam Smith, free banking, and the financial crisis of 1772

Goodspeed, Tyler Beck - 2016

"From 1716 to 1845, the Scottish financial system functioned with no official central bank or lender of last resort, no … public (or private) monopoly on currency issuance, no legal reserve requirements, and no formal limits on bank size. In … noteholders through disorderly bank runs, suspensions of payment, and institutional liquidation. Unlimited liability on the part …

Persistent link: https://www.econbiz.de/10011415730

Manias, panics, and crashes : a history of financial crises

Aliber, Robert Z.; Kindleberger, Charles Poor - 2015 - Seventh edition

responses : benign neglect, exhortation, and bank holidays -- The domestic lender of last resort -- The international lender of …

Persistent link: https://www.econbiz.de/10011343120

Manias, Panics, and Crashes : A History of Financial Crises

Aliber, Robert Z.; Kindleberger, Charles P. - 2015 - Seventh Edition

This seventh edition of an investment classic has been thoroughly revised and expanded following the latest crises to hit international markets. Renowned economist Robert Z. Aliber introduces the concept that global financial crises in recent years are not independent events, but symptomatic of...