Bagus and Howden argue that the "essentialist" view of banking contracts is necessary and improves the ethical standing of banks by clarifying deposit ownership and mitigating risks of bank runs.
David Howden
Dr. David Howden is Chair of the Department of Business and Economics, and professor of economics, at Saint Louis University at its Madrid campus. A Fellow of the Mises Institute, he is the author of over 50 scholarly articles and books. His research focuses on the business cycle and fractional-reserve banking.
His latest book series uses Austrian insights to forecast the world´s major stock, commodity, and foreign-exchange markets. His book, The Fed at One Hundred, co-edited with Dr. Joseph T. Salerno, overviews the Federal Reserve’s history and the theory behind its operations over the last 100 years.
He blogs at davidjhowden.com and tweets @davidjhowden.
Media
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Banking -
Essays in Austrian Economics: Honoring Joe Salerno -
The Austrian Theory of the Business Cycle -
An Equity-Based Approach to the Money Multiplier -
Banking -
New Modes in Central Bank Monetary Policy -
The Euro Crisis -
The Place of Finance and Financial Markets in a Free Society -
Subjective Value and Market Prices -
What Is the Rate of Return on the Louisiana Purchase? -
Dr. David Howden: Let Banks Fail! (Central and Otherwise) -
The Moral Hazard of Deposit Insurance
