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Volume 14  Number 4  •  Spring 2010
Other Issues:  

Rothbard on Fractional Reserve Banking: A Critique
By Michael S. Rozeff
This article appeared in the Spring 2010 issue of The Independent Review

Murray Rothbard, in The Case for a 100 Percent Gold Dollar (1974), maintains that fractional-reserve banking is fraudulent and inherently destabilizing of the economy. However, by considering how a regime of laissez faire in money and banking might operate, we may reach a judgment quite different from Rothbard’s.

 PDFRead the Full Article (PDF, 16 pages)

Other Independent Review articles by Michael S. Rozeff
    Spring 2008   Anarchy, State, and Public Choice