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How Would the Invisible Hand Handle Money?

Originally published in Journal of Economic Literature

The authors discuss the many forms of laissez-faire monetary regimes and answers many questions involved in these discussions.

The authors discuss the many forms of laissez-faire monetary regimes and answers questions involved in these discussions, including what are the implications of laissez faire in money in banking? What, in particular, would follow from allowing private insti- tutions to provide all sorts of payment media (including currency) and intermediation services, free from political restrictions and without the supervision of government central banks?

Read the article at JSTOR.org. 

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