The Need for 100% Reserves

The American Economic Review (1936)

Few suggestions for monetary reform have commanded such immediate and widespread interest as that which has attended the proposal to require 100 percent cash reserves against bank demand deposit liabilities. No small part of this interest can be traced to Professor Irving Fisher’s genius for turning things, by schoolmen brewed, into human nature’s daily food.

Little sleep, more productivity

The Wall Street Journal’s Melinda Black has an interesting piece in today’s edition entitled “The Sleepless Elite.” One to three percent of the population require less than six hours of sleep to function well. In fact, she points out that not only do these short sleepers function, but they are upbeat, tend to be thin and energetic.