Thursday, 24 April 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.