#International_Tech_News | Does #Fractional_Reserve Banking #Endanger the #Economy? A #Debate | On April 16, 2018, two free #market_economists debated a topic that has long #divided_libertarians. Fractional reserve banking refers to banks' #standard_practice of keeping only a #portion of their #depositors' money on hand and #loaning out the rest.
In The #Mystery of #Banking (1983), the anarcho-capitalist economist Murray Rothbard called fractional reserve banking "#a_shell_game, a #Ponzi_scheme, a #fraud in which #fake_warehouse #receipts are issued and circulate as #equivalent to the #cash supposedly represented by the receipts." Other libertarian economists, such as #Larry_White and #Steve_Horwitz, have argued that the practice is perfectly defensible.
At The Soho Forum, a debate series in New York City that is sponsored by the Reason Foundation, Robert Murphy debated George Selgin over the following resolution: "Fractional Reserve banking poses a threat to the stability of market economies."
Murphy, a research assistant professor with the Free Market Institute at Texas Tech University, argued for the affirmative. He has a Ph.D. in economics from NYU has addiliations with the Institute for Energy Research, the Mises Institute, the Fraser Institute, and the Independent Institute. He has authored hundreds of articles and several books explaining economics to the layperson, including Choice: Cooperation, Enterprise, and Human Action.
Selgin, who opposed the resolution, is a senior fellow and director of the Center for Monetary and Financial Alternatives at the Cato Institute and professor emeritus of economics at the University of Georgia. His research covers a broad range of topics within the field of monetary economics, including monetary history, macroeconomic theory, and the history of monetary thought. He is the author of The Theory of Free Banking, Bank Deregulation and Monetary Order, Less Than Zero: The Case for a Falling Price Level in a Growing Economy, and most recently Good Money: Birmingham Button Makers, the Royal Mint, and the Beginnings of Modern Coinage.
Produced by Todd Krainin.
#CONNECT Today for EARLY #INVITE. TastingTraffic LAUNCHING SOON! JOBS FOR ALL WORLDWIDE! WELCOME TO THE FUTURE OF ADVERTISING! | If it Tastes Good, You Gotta LOVE IT! (Patent Pending). Upon launch all will be notified.
Founder of #SEO (Search Engine Optimization)
Founder of #RTB (Real Time Bidding)
Founder of #HFT (High Frequency Trading)
http://Withbrains.com ® (Decentralized SOCIAL Network)
https://TastingTraffic.net ® (#International_Tech_News)
http://JustBlameWayne.com ® (Got Complaints Post it;)?)
http://Davidv.TV ® (#BIG_FAITH) are not affiliates of this provider or referenced images used. This is NOT an endorsement OR Sponsored (Paid) Promotion/Reshare.
