Fractional reserve banking: The genesis of macro-instability

This thesis is a theoretical criticism of fractional reserve banKing The Austrian school (especially the works of Mises, Hayek and Rothbard), consider credit expansion to be the genesis of macro-economic instability; This study applies Austrian interest, capital and business cycle theory to challenge the widely held assumption that our present economic system is fundamentally sound. Using a theoretical construct known as the "Angel Gabriel Model", the devastating consequences of continuing credit expansion are explored. Fractional reserve free banking is also considered within this model and found to be an unsatisfactory option when compared to 100 percent reserve banKing In conclusion, policy proposals and system transition are considered in the event of a general economic collapse.

Name thesis:degree_name

Master of Arts (MA)

Level thesis:degree_level

Thesis

Discipline thesis:degree_discipline

Economics

Grantor dc:publisher

University of Nevada, Las Vegas

Year

1991

Author dc:creator

• Koch, John Nicholas

Contributors dc:contributor

• Murray N. Rothbard

Statement dc:rights

• IN COPYRIGHT. For more information about this rights statement, please visit http://rightsstatements.org/vocab/InC/1.0/

Language dc:language

English

Identifier

https://oasis.library.unlv.edu/rtds/209

OAI identifier oai:identifier

oai:oasis.library.unlv.edu:rtds-1208