Thursday, 3 July 2014
Brainy critics of full reserve go quiet.
Ann Pettifor is a vociferous critic of full reserve banking. But I regard her as having little grasp of banking or indeed economics in general and for reasons I set out here and here.
However Frances Coppola is in a different league. She writes several articles a month on banking and is clearly well informed on the topic. She did write an article criticising full reserve in October 2012, but has since gone silent on the topic. Perhaps she is re-considering her views.
Marshall Auerback also wrote an article criticising full reserve recently. I left a comment (as presumably did others). But none of the comments appeared. Perhaps Marshall was so impressed by the comments that he is also re-considering his views.