The search for macroeconomic stability: comment on Sumner

Article Abstract:

An improvised version of Scott Sumner's concept of BFH includes two-way convertibility with T-bills and future contract ensured by banks providing dollar-denominated checkable deposits, notes and coins. This version proves that combining index future convertibility with the BFH system of free banking is a better way of ensuring macroeconomic stability than Sumner's answer to the problems resulting from information lag.

Models, Analysis, Economics, Criticism and interpretation, Information management, Economic stabilization, Stock index futures, Sumner, Scott

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Full privatization of currency in a nearly conventional money and banking system

Article Abstract:

The full privatization of currency which allows financial institutions to issue money that is backed by the government is a novel method to prevent banking crises such as runs. Many people think that the inherent risks in private monies outweigh the advantages, but most of these risks are without foundation and the advantages apparently outweigh the disadvantages.

Innovations, Monetary policy

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Public export inspections in the United States and their privatization

Article Abstract:

A history is presented on the gradual privatization of public export inspection agencies and their effects on trade and consumer protection. It is posited that privatization had a positive effect, in that government administration would have resulted in a stagnant system.

United States, Consumer protection, History, Export controls, Consumer protection departments and agencies, Consumer protection agencies

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