Ep. 48 Bob Explains the Highlights of His New QJAE Article on Fractional Reserve Banking

Summary: Bob goes solo to explain some of the most important points in his new QJAE article on the fractional reserve banking debate. Bob shows why Mises thought *any* issuance of fiduciary media caused the boom-bust cycle, and he points out a major flaw in George Selgin's defense of fractional reserve banking.