Many analysts have characterized Argentina’s four years under the Law of National Guaranteed Banks as a period of “free banking,” which suggests—incorrectly—that 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, 1887–1890
Free-Banking Failure or Regulatory Failure?
By Nicolás Cachanosky
This
article
appeared in
the Spring 2012 issue of The Independent Review.
Download PDF
(23 pages)
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, 1822–1881 | |
| Fall 2019 | Latin American Populism in the Twenty-First Century | |
| Winter 2017/18 | Money:Free and Unfree | |
| [View All (6)] | ||
