The Atlas Sound Money Project has announced the winners of its 2010 Atlas Sound Money Essay Contest.
The 1st place wining essay by Nicolas Cachanosky argues that banking crises are exogenous under free banking, i.e. they are the result of external conditions and limitations, and not endogenous (internally generated) to the free banking system.
The essay is well argued, and delivers a strong argument for its key thesis of free banking stability.
Click here to read the essay.
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