Have one to sell?
Flip to back Flip to front
Listen Playing... Paused   You're listening to a sample of the Audible audio edition.
Learn more

The Theory of Free Banking Hardcover

ISBN-13: 978-0847675784 ISBN-10: 0847675785

See all 2 formats and editions Hide other formats and editions
Amazon Price New from Used from Collectible from
"Please retry"
$156.80 $73.96
"Please retry"


Customers Who Viewed This Item Also Viewed


Sell Your Books
Get up to 75% back when you sell your books on Amazon. Ship your books for free and get Amazon.com Gift Cards. Learn more.

Product Details

  • Hardcover: 232 pages
  • Publisher: Rowman & Littlefield Publishers (June 28, 1988)
  • Language: English
  • ISBN-10: 0847675785
  • ISBN-13: 978-0847675784
  • Product Dimensions: 1 x 6.5 x 9.8 inches
  • Shipping Weight: 1 pounds
  • Average Customer Review: 3.0 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Best Sellers Rank: #2,872,694 in Books (See Top 100 in Books)

Editorial Reviews


...George Selgin ably dissects the anatomy of free banking, its function and its prognosis. ^IThe Theory of Free Banking^R may be seen in 50 years as one of the most influential economics books written. (Ny City Tribune)

Selgin does more than provide a fresh hearing for free banking. By framing monetary questions in the broadest context, he contributes importantly toward the integration of price theory and monetary theory. (The Southern Economic Journal)

It would be hard to recommend this book too highly. It exhibits extensive research, lucid thinking, and some very provocative conclusions. There can be no doubt that some of Selgin's arguments will be challenged for this is a book that will be hotly debated. Above all, it is essential reading for all monetary and financial theorists. (The Journal Of Economics)

...the importance of Selgin's contribution should not be underrated....With books such as Selgin's, there is hope for the future of ideas and our banking system....^IThe Theory of Free Banking^R presents what is probably the most important and challenging statement in the field of money and banking of this century. (The Detroit News)

...written in the style of an excellent teacher who has constant intellectual contact with his students. His audience can be interested laymen as well as professional economists. (Journal of Money)

an ambitious work....It not only employs theory to explore alternative institutions but also enriches the theory itself. (Austrian Economics Newsletter)

^IThe Theory of Free Banking provides a way to escape from the heads-I-win tails-you-lose dilemmas present in current debate about monetary reform. This is solid intellectual nourishment for friends of economic liberty. (Laissez Faire Review^R)

George Selgin develops a forceful argument that the existing regulated banking system based on central bank monopoly note issue should be replaced by an unregulated system in which commercial banks are free to issue bank notes as well as deposits. (Anna J. Schwartz)

George Selgin's major contribution in this book is to show how competition among completely free, unregulated banks-issuing their own currency-would work, and in my mind he has proven it would be more stable and sound than our current regulatory mess. (Joe Cobb)

More About the Author

Discover books, learn about writers, read author blogs, and more.

Customer Reviews

3.0 out of 5 stars
5 star
4 star
3 star
2 star
1 star
See both customer reviews
Share your thoughts with other customers

Most Helpful Customer Reviews

2 of 2 people found the following review helpful By Patrick M. Hussey on January 14, 2013
Format: Hardcover
If you are looking for an exploration into the monetary mechanics of a free banking system, and how money supply would work under competitive note issue, look no further.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
2 of 27 people found the following review helpful By Edwin Rector on August 3, 2012
Format: Hardcover
Selgin is a fringe/Austrian/Cato economist who thinks the world would be better off if there were no FDIC bank insurance so that naive depositors could lose their life savings every few years through bank failures.

The USA actually had fairly extensive experience of "free" (i. e. unsupervised, unaudited, corrupt, speculative) banking in the frontier areas of the country in the 1820s through 1850s. Today that period is known -- for pretty good reasons -- as "The Broken Bank Era".
2 Comments Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again

What Other Items Do Customers Buy After Viewing This Item?