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Mark teaches economics and discusses free banking and free money in this video. Free banking is an alternative to government control of money, with a history dating back to the 1800s in the US. The period from 1837 to 1863 saw a free banking system, followed by a quasi free banking system until 1913. Despite not having the Federal Reserve during this time, society functioned without major issues. Other countries like Canada and Scotland also had successful free banking systems in the past.