The Theory of Monetary Institutions

The Theory of Monetary Institutions is a thorough and insightful treatment of the emergence and evolution of money and banking regimes. Professor Whites brilliant exposition of alternative regimes is innovative and sheds a great deal of light upon the crucial features of contemporary money and banking institutions. This tourdeforce is a mustread." Steve H. Hanke, The John Hopkins University "Larry Whites The Theory of Monetary Institutions provides a very clear, extremely readable and uptodate overview of monetary theory. White provides a uniquely insightful perspective into a difficult and controversial area, and his arguments and analysis are unbeatable. All monetary economists should read it." Kevin Dowd, University of Sheffield "White has written an academically rigorous text covering the theory of money, banking, and monetary policy. The text stands out from others in the way it describes the evolution of economists thinking about monetary institutions. White excels in combining the historic with the contemporary, the abstract with the tangible, and the theoretical with the practical. The chapters on alternative monetary regimes will no doubt challenge many widelyheld views about the proper role of government within an economys monetary system." James A. Overdahl "Lawrence H. White has emerged as one of the most thoughtful monetary economists of his generation, and The Theory of Monetary Institutions fills an important lacuna in the literature. The book is mature and balanced; its encyclopedic knowledge of the literature covers a far broader range of material than conventional texts. I am aware of no other book that does such a superb job of placing institutional arrangements in theoretical and historical perspective." Hugh Rockoff, Rutgers University