Bob Explains the Highlights of His New QJAE Article on Fractional Reserve Banking

08/08/2019 Robert P. Murphy

Bob Murphy explains some of the most important points in his new QJAE article on the fractional reserve banking debate. Bob shows why Mises thought any issuance of fiduciary media caused the boom-bust cycle, and he points out a major flaw in George Selgin’s defense of fractional reserve banking.

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