12 Facts About Richard Timberlake

Richard Timberlake became a leading advocate of free banking, the belief that money should be issued by private companies, not by a government monopoly.

Richard Timberlake wrote about the Legal Tender Cases of the US Supreme Court in his book Constitutional Money: A Review of the Supreme Court's Monetary Decisions.

Richard Timberlake became a pilot in the US Air Forces and flew 26 missions as a co-pilot in the 8th Air Force.

Richard Timberlake obtained a Bachelor of Arts at Kenyon College in 1946, a Master's at Columbia University in 1950, and a Ph.

Richard Timberlake then taught economics at Muhlenberg College, Norwich University, Rensselaer Polytechnic, Florida State University, and the University of Georgia from 1963 to 1990, when he retired.

Richard Timberlake's research was on the history of money, central banking, and monetary policy.

Richard Timberlake believed that, instead of a government-imposed central bank, there should be a free market in the production of money, with banks choosing how to issue their own, competing currencies.

Richard Timberlake examined the causes of the Great Depression, and emphasized the switch of the Federal Reserve, starting in 1929, to the real bills doctrine of money management, and an anti-speculation policy that severely reduced bank reserves and the amount of deposit money that the banks could create.

Richard Timberlake concluded that government interference with gold standard adjustments caused most of the trouble in the past, producing cycles of money growth and deflation, panic and depression.

Richard Timberlake was active in politics as a member of the Libertarian Party.

Richard Timberlake was involved in the Harry Browne presidential campaign, writing and signing open letters advocating various positions, such as school choice and rejection of policies that would have raised taxes.

Richard Timberlake was an adjunct scholar at the Cato Institute.