Read INHERENT INSTABILITY IN BANKING: THE FREE BANKING EXPERIENCE: https://pdfs.semanticscholar.org/ca4d/802fc714155b66465effa4d41ea5dd6840a0.pdf Notes on Rolnick and Weber (1986): p.
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Read INHERENT INSTABILITY IN BANKING: THE FREE BANKING EXPERIENCE:
https://pdfs.semanticscholar.org/ca4d/802fc714155b66465effa4d41ea5dd6840a0.pdf
Notes on Rolnick and Weber (1986): p. 883 contains an error. In the following sentence, the terms extrinsic and intrinsic are reversed: "If such a local real shock can be identified, then these failures can be assumed to be due to extrinsic uncertainty. Otherwise, the intrinsic uncertainty explanation may be more appropriate."
- Concisely describe the viewpoint that the author is responding to with this article.
- Summarize the reasoning and/or evidence that has been offered to support this viewpoint.
- According to the author, what is the most important problem with this viewpoint?
- What viewpoint does the author argue for instead?
- What reasoning or evidence does the author provide to support his or her own viewpoint?
- What further evidence, if discovered, might strengthen the author's argument?
- What further evidence, if discovered, might weaken the author's argument?
Expert Answer:
The author of Inherent Instability in Banking The Free Banking Experience is responding to the viewpoint that free banking systems characterized by mi... View the full answer
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