July 1, 2010

Central Banking in a Free Society

An Essay Review
  • Lawrence H. White

    Distinguished Senior Fellow, F. A. Hayek Program for Advanced Study in Philosophy, Politics and Economics
Contact us
To speak with a scholar or learn more on this topic, visit our contact page.

Financial-market economist and policy advisor Tim Congdon proposes the privatization of the Bank of England and the continuation of the bank’s current roles of issuing fiat money at its own discretion and enforcing Parliament’s legal restrictions on commercial banks. To make sense of this combination it may help to know that Congdon believes that discretionary monetary policy and regulatory rule making by central bankers are consistent with the rule of law.

Read the article at the Independent Review.