Monday, April 16, 2018
Fractional reserve banking poses a threat to the stability of market economies.
For the affirmative:
Robert P. Murphy is Research Assistant Professor with the Free Market Institute at Texas Tech University. He has a PhD in economics from NYU. Murphy is also Senior Economist with the Institute for Energy Research (IER), Senior Fellow with the Mises Institute, Senior Fellow with the Fraser Institute, and Research Fellow with the Independent Institute. He has authored hundreds of articles and several books explaining economics to the layperson, including Choice: Cooperation, Enterprise, and Human Action.
For the negative:
George Selgin is a senior fellow and director of the Center for Monetary and Financial Alternatives at the Cato Institute and Professor Emeritus of Economics at the University of Georgia. He is the author of The Theory of Free Banking (Rowman & Littlefield, 1988), Bank Deregulation and Monetary Order (Routledge, 1996), Good Money: Birmingham Button Makers, the Royal Mint, and the Beginnings of Modern Coinage (University of Michigan Press, 2008), Money: Free and Unfree (The Cato Institute, 2015), Less Than Zero: The Case for a Falling Price Level in a Growing Economy (The Cato Institute, 2018), and Floored! How a Misguided Fed Experiment Deepened and Prolonged the Great Recession (The Cato Institute 2018). Selgin holds a B.A. in economics and zoology from Drew University, and a Ph.D. in economics from New York University.