pull down to refresh

42 sats \ 1 reply \ @denlillaapan OP 8 Jan \ parent \ on: Good and Bad Banknotes (Journal of Monetary Economics, Gary Gorton) econ
In my reading of this history, this wildcat banking idea is mostly a myth -- tracing back to exaggerations by a very motivated commissioner in 1838.
Gerard Dwyer has a good rundown on how most of these tales are myths or unsubstantiated.
The standard reference here is Hammond’s book, Banks and Politics in America from the Revolution to the Civil War
write
preview
35 sats \ 0 replies \ @Undisciplined 8 Jan
That's a little disappointing. I enjoyed the real world game theory involved in the fanciful account.
reply