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The book of Belief Smith "the Origin of the central banks" forces us to overestimate

Developed representations about our monetary system also induces to consider Arguments in favour of its reforming.

The decades last from the moment of occurrence of the book in 1936, have not reduced

The importance of an object of research. Created on the basis of a dominating role

The states, monetary systems function all as badly. Available experience in Other areas, and also James Bjukenana's jobs and school of a public choice (public choice school - a direction of economic thought, in which frameworks Considerable results about mechanisms and consequences are received The governmental intervention in economy, bureaucratic institutes and

Procedures, etc.) have increased scepticism concerning a government role in general.

Today people are ready to discuss that intended to investigate Belief Smith -

"Comparative advantages of the monopolistically centralised bank

Systems and systems of the competitive banks having the identical rights to carrying out

Operations ".

After a small biographic sketch of a life of Belief Smith I will make the review

The basic sections of its book. Then I will state some offers on development

Subjects, paying attention to communication with modern practice of a currency issue and

Reform of bank system. Job of Belief Smith "the Origin of the central banks" was doctor's

The dissertation written by it under the direction of Fridriha A. Hayek at University

The London school of economy. She has entered the university 1930, and in 1935

Has received doctor's degree. In the same years at the London school worked Hayek,

Lajonel Robins, T.E.Gregori, J. R.Hiks and Denis Robertson; in 1933 - 34 years

It worked as scientific assistant Hugh Deltona. Not only school faculty, but also

Group of students which, as well as she, became known economists, The years, spent Smith in London, the Golden Age London allow to name Schools. In 1936-37 Smith worked as the economist-assistant in Imperial Committee on economy. In April, 1937 Smith marries German economist Fridriha Luttsa, Which in 1934 - worked 35 years as Walter Ojkena's assistant (Walter Eucken)

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