Many analysts have characterized Argentinas four years under the Law of National Guaranteed Banks as a period of free banking, which suggestsincorrectlythat the financial crisis of 1890 was a failure of free banking. In reality, that law regulated banks and encouraged them to become less solvent.
The Law of National Guaranteed Banks in Argentina, 18871890
Free-Banking Failure or Regulatory Failure?
By Nicolás Cachanosky
This
article
appeared in
the Spring 2012 issue of The Independent Review.
Banking and FinanceDefense and Foreign PolicyEconomic History and DevelopmentEconomyFiscal Policy/DebtFree Market EconomicsGovernment and PoliticsInternational Economics and DevelopmentLatin AmericaPublic ChoiceTaxes
Other Independent Review articles by Nicolás Cachanosky | ||
Summer 2022 | Monetary Disorder in Buenos Aires Province, 18221881 | |
Fall 2019 | Latin American Populism in the Twenty-First Century | |
Winter 2017/18 | Money: Free and Unfree | |
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