In defense of fractional free banking
نویسندگان
چکیده
منابع مشابه
AgAinst MonetAry DisequilibriuM theory AnD FrActionAl reserve Free bAnking
The theory of monetary disequilibrium, as espoused by Selgin (1988), White (1989), Horwitz (2000), and others, has been used to justify the issuance of fiduciary media under a system of fractional reserve “free” banking. The present paper examines this monetary disequilibrium theory and concludes that it contains numerous errors and logical fallacies. The foundational economic argument in favor...
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Banking systems based on the fractional reserve banking process have been in use for several hundred years. However textbook models of these systems do not include either loan repayments or loan defaults, and predict the evolution over time of a stable, asymptotically converging process governing credit and money supplies to the general economy for which there is no empirical evidence in long r...
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ژورنال
عنوان ژورنال: MISES: Interdisciplinary Journal of Philosophy, Law and Economics
سال: 2021
ISSN: 2594-9187,2318-0811
DOI: 10.30800/mises.2021.v9.1361