Libertarian Papers
Author:
Dan Mahoney
Online Publish Date:
Volume 3, Article 14 (2011) Introduction The purpose of this note is to apply an argument developed in Hülsmann (2009) to a claim used in advocacy of fractional reserve banking (FRB) under a system of free banking (that is, a system of banks lacking any formal, central control [as characterizes the state-monopolized central banking systems of the