Thursday, April 24, 2014

Martin Wolf now almost converted to full reserve banking?

Martin Wolf in today’s Financial Times has complimentary things to say about Positive Money’s latest book: Modernising Money. Other advocates of full reserve also get a mention: Lawrence Kotlikoff, Irving Fisher, and the group of economists who advocated the “Chicago Plan” in the 1930s.
Martin Wolf might have mentioned Milton Friedman and Hyman Minsky – two other advocates of full reserve, but never mind. I'm not complaining. In fact I'll be opening a bottle of champagne.

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