Work by Terry economics professor George Selgin has been gaining attention as it pertains to questions about Scotland's financial future.
If Scotland becomes an independent nation, it may or may not keep the British pound as its currency — something debated by politicians and economists. As the debate continues, Selgin's work on free banking has been cited by a number of United Kingdom politicians and periodicals because it pertains to this very issue.
The London business magazine City A.M., notes that Selgin has pointed out that not having a lender of last resort has actually been a positive for dollarized economies, as "by doing away with, or at least greatly limiting, any prospect of a bailout, it has caused creditors and banks to behave more prudently."
An opinion piece running in Britain's Telegraph also cited Selgin's work.
To read more about Selgin's work on free banking, visit his personal Terry website.