Fractional Reserve Banking
From Critiques Of Libertarianism
- Fractional Reserve Banking: An Evil? [More...]
- "I have to admit that every time I hear some Austrian complain about fractional reserve banking I laugh. The Austrians are adamant that fractional reserve banking is an evil fraud, yet since the early 19th century this system was a fundamental characteristic of modern Western capitalism. Fractional reserve banking was a major invention of the free market. What government ever forced banks or the public to engage in the practice?"
- Paul Krugman Asks a Question: On the "Austrian" Hatred of Fractional Reserve Banking, Paper Money, etc. Weblogging [More...]
- Brad DeLong wades into the cesspool of Austrian gold versus fiat money and depressions arguments from Ludwig von Mises and his ilk.
- Those Dishonest Goldsmiths [More...]
- A Cato Institute paper that savages Murray Rothbard for the false claim that fractional reserve banking was born of criminal beginnings resembling embezzlement.
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