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The Theory of Free Banking

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George Selgin’s 1988 book, The Theory of Free Banking: Money Supply under Competitive Note Issue [2], is now available on-line, free, at the Online Library of Liberty.

This development deserves loud applause, for this book is a major work contributing to our understanding not only of free banking, but of banking and money more generally.

(George completed the first draft of this book – which was his dissertation at NYU – when he and I shared an apartment during our first years as young assistant professors at George Mason.  I still vividly remember – from 1985 and 1986, a time before it was common to store such documents digitally – the brown box that George used to carry his dissertation.  He was very protective of that brown box.  Now, just a quarter-century later, the entire contents of what was once housed so carefully in that brown box is available on line, free of charge, the world over.  How marvelous!)