"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
A Belated Reply on Fractional Reserve Banking
Submitted by Robert Fredericks on Sat, 2009-04-18 16:00
in
?My primary objection is with the concept of fractional-reserve banking. The people who practice it are a much smaller concern, because unfortunately as my Public Finance professor used to say, ?People respond to incentives.??
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