In this article recently published in the Quarterly Journal of Austrian Economics, David Howden and I discuss the theoretical problems of fractional reserve free banking. Find the article here: http://mises.org/journals/qjae/pdf/qjae13_4_2.pdf
Fractional Reserve Free Banking: Some Quibbles
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George Selgin has replied…
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1800813
Gracious, he gets angrier and angrier. Good luck trying to cement a united position between FRFBs and full-reserve Austrians, Toby.
The only people we hate more than the Judean People’s Front are the People’s Front of Judea! Splitters!
Tim, I can but try.
When I dealt with chef’s selling them meat and fish, there were a high proportion very skilled , but highly emotionally charged chefs. This reflected actually a passion and a dedication to their work. This exists in academia as well. Most of these people are brilliant , but they get very tetchy if you challenge some assumptions in the wrong way. I have learned in academia, like the ancient code of Chivalry of the Knights , you have to do things in a certain way, in a certain format, in a certain size etc, it is all very baffling to a layman observer! We do not do that as we are not in academia and do not have to spend the time on protocol etc and just get on with challenging assumptions , attacking error , learning where are own error is and generally upping our standard of knowledge.
Continue to try we must.