Bank self-regulation: comment on Bordo and Schwartz

Article Abstract:

A study evaluates theories on bank self-regulation and refutes the alternative schemes put forward by Michael Bordo and Anna J. Schwartz for bank self-regulation. The Bordo-Schwartz monetary-base rule is merely one component of proposed free-banking reform and monetary laissez faire. Complete deregulation and adoption of a gold or frozen-fiat standard is not possible, nor can politically based regulatory agencies be depended on to serve the depositors' long-term interests. A free-banking reform based on a frozen stock of fiat money is proposed.

Analysis, Monetary policy, Industry self-regulation, Industry self regulation

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You call that deregulation? A critical examination of Hugh Thomas's proposal to deregulate banking

Article Abstract:

An argument against a proposal by Hugh Thomas to deregulate the banking industry is presented. Topics include the specifics of Thomas's proposal, which amount to a nationalization of US money; and the benefits of more genuine deregulation, which would eliminate government guarantee of bank deposits and allow banks to provide customers with mutual fund accounts; and the ultimate goal of an efficient payment system.

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A proposal to deregulate banking: comment on Thomas

Article Abstract:

A proposal by Hugh Thomas for banking deregulation is examined, focusing on the points of the proposal, its shortcomings, and the manner in which the proposal would reduce the benefits gained by banks' ability to create money. Topics include Thomas's proposals for a real-time, gross payment settlement system; the demonetization of banks; and the abolishment of government safety nets.

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• Abstracts: Economic policy: credible commitments. Don't mix monetary and fiscal policy: why return to an old, flawed framework?

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