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 modern Western world]). Hülsmann considers the effects on the structure of production of changes in the demand for money, under two contrasting monetary systems: a commodity money system, and a fiat money system.

Henry Hazlitt VENTURA Adobe Acrobat 6.0 Paper Capture Plug-in

David Osterfeld VENTURA Adobe Acrobat 6.0 Paper Capture Plug-in

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G.R. Steele Hayek’s Money Economy: The Dynamics of Competitive Equilibrium and Socio-Economic Order Adobe Acrobat 6.0 Paper Capture Plug-in

Jeff Tucker method.PDF Acrobat PDFWriter 4.05 for Windows NT

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