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Legislating Instability
Adam Smith, Free Banking, and the Financial Crisis of 1772
Book • 2016
This book explores the paradox of Scotland's banking system, which was highly dynamic and resilient from 1716 to 1845 despite operating without government controls.
Goodspeed argues that the imposition of regulations in 1772 undermined the flexibility and resilience of the Scottish banking system, increasing the risk of financial instability.
The book revises historical interpretations and advances our understanding of unregulated banking and its implications for financial stability.
Goodspeed argues that the imposition of regulations in 1772 undermined the flexibility and resilience of the Scottish banking system, increasing the risk of financial instability.
The book revises historical interpretations and advances our understanding of unregulated banking and its implications for financial stability.
