Lawrence H White

Lawrence H White

Lawrence H White


Theory and history of banking and money

Lawrence H. White specializes in the theory and history of banking and money. He previously taught at New York University, the University of Georgia, and the University of Missouri - St. Louis. Professor White is the author of The Clash of Economic Ideas (2012), The Theory of Monetary Institutions (1999), Free Banking in Britain (2nd ed., 1995), and Competition and Currency (1989). He is the editor of The History of Gold and Silver (3 vols., 2000), Free Banking (3 vols., 1993), and other volumes. His articles on monetary theory and banking history have appeared in the American Economic Review, the Journal of Economic Literature, the Journal of Money, Credit, and Banking, and other leading professional journals. In 2014 he received the Adam Smith Award of the Association for Private Enterprise Education. He has been a visiting research fellow at the American Institute for Economic Research, a visiting lecturer at the Swiss National Bank, and a visiting scholar at the Federal Reserve Bank of Atlanta. Professor White is a co-editor of Econ Journal Watch and a member of the board of associate editors of the Review of Austrian Economics. He is a Distinguished Senior Fellow of the F. A. Hayek Program for Advanced Study in Philosophy, Politics and Economics of the Mercatus Center at George Mason University, and a senior scholar of the Cato Institute Center for Monetary and Financial Alternatives.

Selected Publications

Books authored:

The Clash of Economic Ideas (Cambridge U. Press, 2012)

The Theory of Monetary Institutions (Basil Blackwell, 1999)

Free Banking in Britain (Cambridge U. Press, 1984; 2nd ed., Institute of Economic Affairs, 1995)

Competition and Currency (NYU Press, 1989)

Books edited:

Renewing the Search for a Monetary Constitution (co-editor; Cato Institute, 2015)

Friedrich A. Hayek, Capital and Interest (U. Chicago Press, 2015)

Friedrich A. Hayek, The Pure Theory of Capital (U. Chicago Press, 2007)

The History of Gold and Silver, 3 vols. (Pickering and Chatto, 2000)

Free Banking, 3 vols. (Edward Elgar, 1993)

Recent articles:

“Positively Valued Fiat Money after the Sovereign Disappears: The Case of Somalia" (with William J. Luther), Review of Behavioral Economics 3, Issue 3-4 (2016): 311-34.

“The Market for Cryptocurrencies,” Cato Journal 35 (Spring-Summer 2015): 383-402.

“The Merits and Feasibility of a Commodity Standard,” Journal of Financial Stability 17 (April 2015): 59-64. 

“Has the Fed Been a Failure?” (with George Selgin and William D. Lastrapes), Journal of Macroeconomics 34 (September 2012): 569-96. 

Expanded Publication List

See curriculum vitae


A.B. 1977, Harvard University

M. A. 1980; Ph.D. 1982, University of California, Los Angeles.

Dissertations Supervised

Denver Casey, Investigating the Conditions for Multiple Media of Exchange (2023)

Nicholas K. Cooper, Essays on the Political Economy of Central Banking (2023)

Michael Watson, Menger vs. Chartalism on the Origins of Money: Theory and History (2022)

Slade A Mendenhall, Financial Regulation and Competition Since the Great Recession (2019)

Bryan P Cutsinger, Three Essays on Monetary and Political Economics (2019)

Charles E. Moulton, Jr., Essays on the Future of Money (2018)

Scott Burns, Three Essays on Finance and Entrepreneurship in the Developing World (2017)

Cameron J. Harwick, Credit and Cranium: Three Essays on the Meaning of Money (2017)

Patrick T. Newman, Late 19th Century and Early 20th Century United States Business Cycles and Monetary Policy (2016)

Alexander William Salter, Essays on the Political Economy of Monetary Institutions and Policy (2013)

Simon Bilo, Back to Cantillon: On the Relevance of the Monetary Economics of Richard Cantillon (2013)

Nicholas Curott, Three Essays on the History of Monetary Theory and Banking Practice: Adam Smith and the American Founders (2012)

William Luther, Money Without a State (2012)

Thomas L. Hogan, Essays on Money, Banking, and Finance (2011)