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 Rothbards.
Rothbard on Fractional Reserve Banking
A Critique
By Michael S. Rozeff
This
article
appeared in
the Spring 2010 issue of The Independent Review.
Other Independent Review articles by Michael S. Rozeff | |
Spring 2008 | Anarchy, State, and Public Choice |