Panama Has No Central Bank

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Farmer Brown's picture
Farmer Brown
Status: Martenson Brigade Member (Offline)
Joined: Nov 23 2008
Posts: 1503
Panama Has No Central Bank

 

Panama Has No Central Bank

Mises Daily by David Saied | Posted on 4/26/2007 12:00:00 AM

In this modern, post-–Bretton Woods world of "monetary order" and coordinated central-bank inflation, many who are otherwise sympathetic to the arguments against central banks believe that the elimination of central banking is an unattainable, utopian dream.

For a real-world example of how a system of market-chosen monetary policy would work in the absence of a central bank, one need not look to the past; the example exists in present-day Central America, in the Republic of Panama, a country that has lived without a central bank since its independence, with a very successful and stable macroeconomic environment.

http://mises.org/story/2533

 

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ccpetersmd
Status: Martenson Brigade Member (Offline)
Joined: Oct 12 2008
Posts: 799
Re: Panama Has No Central Bank

Thanks, Patrick! I love the Lugdwig von Mises site; there is just so much good information in there!

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