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Experiments with Free Banking during the French Revolution

In: Unregulated Banking

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  • Eugene N. White

Abstract

The French Revolution began a period of radical political, social and economic experimentation. Twice during the Revolution, when advocates of laissez-faire economic policies were in power, free banking flourished. While free banking in Scotland and the United States has been intensively studied, these experiements are not ideal for judging its merits. The French experience thus provides additional useful evidence on the viability of banking where there is free entry and the issuance of liabilities is unregulated.

Suggested Citation

  • Eugene N. White, 1991. "Experiments with Free Banking during the French Revolution," Palgrave Macmillan Books, in: Forrest Capie & Geoffrey E. Wood (ed.), Unregulated Banking, chapter 4, pages 131-157, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-11398-9_4
    DOI: 10.1007/978-1-349-11398-9_4
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