Rothbard showed that even in a much more market society than we have today banks tended towards cheap credit, causing the panic of 1819. Granted they had just created the first bank of america, but that was a private bank still.
Rothbard showed that even in a much more market society than we have today banks tended towards cheap credit, causing the panic of 1819. Granted they had just created the first bank of america, but that was a private bank still.