The Rationale of Central Banking and the Free Banking Alternative

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Written as a doctoral dissertation under Friedrich Hayek at the London School of Economics in the early 1930s, the book covers the history of free banking in the 19th century and reviews the theoretical arguments both for and against the idea of free banking.

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The Rationale of Central Banking and the Free Banking Alternative, Foreword by Leland Yeager (Indianapolis: Liberty Fund, 1990).

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The copyright to this edition, in both print and electronic forms, is held by Liberty Fund, Inc.

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