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- Search found 2 items for:
- Capital and Interest Theory
- Jörg Guido Hülsmann
- Money and Banks
Journal of Libertarian Studies
Author:
Jörg Guido Hülsmann
Online Publish Date:
This article will explore the economics of legal tender laws, arguing that they are not only a necessary prerequisite of paper money, but also benefit fractional-reserve banking. Such laws make paper money and fractional-reserve banking more widespread than they would otherwise be. Thus, legal tender laws must be understood as a major factor in