Full-reserve banking, which prohibits private money creation, has not been implemented since the 19th century. Thereafter, bank deposits became the dominant means of payment and have retained their position until today. The specific contribution of this paper is to provide a comprehensive outlook on the historical and contemporary proposals for full-reserve banking. The proposals for full-reserve banking have become particularly popular after serious financial crises. http://et.worldeconomicsassociation...cal-survey-from-david-ricardo-to-martin-wolf/
Von mises explains the credit cycle well to me... I've not read Ricardo.... Since i've started reading economics i've sorta of blindly read all things Austrian i will admit
I love reading Martin Wolf. Thank you. The idea seems pretty interesting, but it's quite impossible nowadays. Private banks will never let this thing happen.