Prednáška CEQLS: George Selgin: Privatizácia peňazí

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KI s podporou Nadácie Tatra banky a v spolupráci s ďalšími partnermi organizovali ďalšiu - v poradí už tridsiatuprvú - z cyklu prednášok CEQLS, ktorá sa uskutočnila dňa 13. mája 2013 v Bratislave a dňa 14. mája 2013 v Košiciach. Tentoraz bol našim hosťom George Selgin, profesor ekonómie na University of Georgia (USA). Viac o prednáške nájdete na www.konzervativizmus.sk

Conservative Institute organized another of the CEQLS Lectures: George Selgin, Professor of Economics at the University of Georgia, was our guest on May 13, 2013 in Bratislava and on May 14, 2013 in Košice. More information at www.institute.sk

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Prednáška CEQLS: George Selgin: Privatizácia peňazí

  1. 1. PrivatizationPrivatizationof Moneyof Money
  2. 2. Silver Content ofRoman Coins
  3. 3. Regal Copper Coins:Good WornCounterfeit
  4. 4. “The judicious operations ofbanking, by providing, if I maybe allowed so violent ametaphor, a sort of wagon-waythrough the air, enable thecountry to convert, as it were, agreat part of its highways intogood pasture and corn fields, andthereby to increase veryconsiderably the annualproduce of its land and labour.”
  5. 5. RSRDReserves(MV)*PaymentsReserve and Spending Equilibriumunder Free Banking
  6. 6. “The commerce and industry of thecountry, however, it must beacknowledged, though they may besomewhat augmented, cannot bealtogether so secure, when they arethus, as it were, suspended uponthe Daedalian wings of papermoney, as when they travel aboutupon the solid ground of gold andsilver.”
  7. 7. An Act for granting to theire Majestiesseverall Rates and Duties…forsecureing certaine Recompenses andAdvantages…to such Persons as shallvoluntarily advance the summe ofFifteene hundred thousand poundstowards the carrying on the Warragainst France                         The Bank of England Act (1694)
  8. 8. I have tediously insisted that thenatural system of banking is thatof many banks keeping their owncash reserve, with the penalty offailure before them if they neglectit. I have shown that our system isthat of a single bank keeping thewhole reserve under no effectualpenalty of failure. And yet Ipropose to retain that system, andonly attempt to mend and palliateit.
  9. 9. I can only reply that I propose toretain this system because I amquite sure that it is of no manner ofuse proposing to alter it... Youmight as well, or better, try to alterthe English monarchy andsubstitute a republic, as to alter thepresent constitution of the Englishmoney market, founded on theBank of England, and substitute forit a system in which each bank shallkeep its own reserve.

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