Money in an economy without banks

by Alex Schaefer   Most of the world’s money is currently in the form of deposits created by banks. After the 2008 credit crisis, which instilled a strong suspicion of…

An homage to the cheque (or check)

The check used to buy Alaska (source) I recently read an FP article about the odd persistence of the cheque as a way to make payments. According to the author,…

On currency

David Birch recently grumbled about people’s sloppy use of the term legal tender, and I agree with him. As Birch points out, what many of us don’t realize is that…

It’s interesting to see how after a credit crisis, economists start to take money and banking a bit more seriously. Adam Smith, who experienced his very own credit crisis —…

Bill of exchange for £30 for tobacco sales, on April 26th 1769 Here’s some interesting news. Ripple is finally being implemented. What is Ripple? Ripple is an open source P2P…