The Law of National Guaranteed Banks in Argentina, 18871890
Free-Banking Failure or Regulatory Failure?
By Nicolás Cachanosky
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.
|Other Independent Review articles by Nicolás Cachanosky|
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|Fall 2019||Latin American Populism in the Twenty-First Century|
|Winter 2017/18||Money:Free and Unfree|
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