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Ideas for an Alternative Monetary Future

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Ideas for an Alternative Monetary Future

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credit creation

Fritz Machlup, fractional reserve banking, credit creation, bank credit, Alt-M Classics
Economic History, Economic Thought, Recommended Reading

Alt-M classics: Fritz Machlup on the Proper Limits of Bank Credit Expansion

Fritz Machlup/August 31, 2018June 19, 2022

[Having drawn attention in my last post to Fritz Machlup's superb 1940 book, The Stock Market, Credit, and Capital Accumulation, it occurred to me that  excerpts from that work concerning the circumstances in which an increase in the supply of "fiduciary" bank credit will not promote an…

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Economic History, Free Banking, The Fed & Central Banks

Hayek on the Creation of Moral Hazard by Central Banks

Larry White/December 7, 2017June 19, 2022

Some years ago I published a paper on the banking theory and policy views of the important twentieth-century economist Friedrich A. Hayek, entitled “Why Didn't Hayek Favor Laissez Faire in Banking?”[1] Very recently, working on a new paper on Hayek’s changing views of the gold standard, I…

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Welcome to Alt-M, a community devoted to exploring and promoting ideas for an alternative monetary future. Our goal is to reveal the shortcomings of today’s centralized, bureaucratic, and discretionary monetary arrangements, and to bring serious consideration of real alternatives to the center stage of current monetary and financial reform debates.

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