A Smithian Reading of Chilean Free Banking

IF 1.2 2区历史学 Q3 ECONOMICS

History of Political Economy Pub Date : 2023-04-12 DOI:10.1215/00182702-10620969

引用次数: 0

Abstract

In the second half of the nineteenth century, the Chilean free banking system worked similarly to how Adam Smith describes the eighteenth-century free banking system in Scotland. The characteristics of free banking that Smith identifies as conductive of successful outcomes—free entry, unlimited liability, and convertibility on demand—are present in both Scotland and Chile. And the Chilean system failed for similar reasons to the worries Smith had about the Scottish system: inconvertibility, legal tender, involvement with government borrowing, and lobbying. The Chilean experience of free banking appears to follow Smith's account of free banking.

查看原文本刊更多论文

智利自由银行的史密斯式解读

在19世纪下半叶，智利的自由银行体系与亚当·斯密描述的18世纪苏格兰的自由银行系统类似。史密斯认为自由银行的特点有助于取得成功——自由进入、无限责任和按需可兑换——在苏格兰和智利都存在。智利体系的失败原因与史密斯对苏格兰体系的担忧相似：不可兑换、法定货币、参与政府借贷和游说。智利的免费银行业务经验似乎遵循了史密斯关于免费银行业务的描述。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

History of Political Economy Multiple-

CiteScore

1.20

自引率

14.30%

发文量

期刊介绍： Focusing on the history of economic thought and analysis, History of Political Economy has made significant contributions to the field and remains its foremost means of communication. In addition to book reviews, each issue contains original research on the development of economic thought, the historical background behind major figures in the history of economics, the interpretation of economic theories, and the methodologies available to historians of economic theory. All subscribers to History of Political Economy receive a hardbound annual supplement as part of their subscription.