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Do We Really Need Central Banks?

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  • Roland Vaubel

Abstract

An analysis of economic theory and economic history suggests that central banks, with a monopoly of money‐issuing services, are not necessary. The often‐levelled arguments against private banks issuing money in competition with each other and with central banks do not stand up to close scrutiny.

Suggested Citation

  • Roland Vaubel, 2009. "Do We Really Need Central Banks?," Economic Affairs, Wiley Blackwell, vol. 29(3), pages 6-8, September.
    • Handle: RePEc:bla:ecaffa:v:29:y:2009:i:3:p:6-8
    DOI: 10.1111/j.1468-0270.2009.01911.x
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    References listed on IDEAS

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    1. Vaubel, Roland, 1990. "Currency Competition and European Monetary Integration," Economic Journal, Royal Economic Society, vol. 100(402), pages 936-946, September.
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