It therefore allows financial institutions to operate freely, subject only to market forces and the rules of 'normal' commercial and contract law.
Free banking is thus equivalent to financial laissez-faire .
Free banking is very different from our current financial regimes that involve central banks, armies of financial regulatory bodies, and extensive government intervention. However, the idea of free banking is not new, and there are many examples of free banking systems in the historical record. This website provides a resource for students and researchers interested in free banking. This resource consists of a guide to the free banking literature, and a guide to related websites.