Selgin (2009) questions the practicality of 100 percent reserve requirements applied to small change. He interprets the private coinage of small change in 18th century England as embodying fiduciary media
Malavika Nair
Malavika Nair is a Free Market Institute Visiting Scholar at Texas Tech University. Her research focuses on questions related to monetary theory, financial history, private enterprise in money production and financial services, as well as the economics of caste.