Sunday, May 31, 2009

Book Review: State Banking in Early America

Business History Review from Harvard Business School published a book review of State Banking in Early America: A New Economic History (2003) by Howard Bodenhorn. Of importance to readers of The Monetary Future is the theme that the United States benefited from its free banking philosophy where state governments were independent of a centralized authority to address specific, local needs. This is especially relevant to the recent states' legislative initiatives for sound money. For more on states' initiatives, please see Judy Shelton's "Capitalism Needs a Sound-Money Foundation", The Wall Street Journal, February 11, 2009.

The Economic History Association also published a book review of Bodenhorn's book.

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