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The Case Against Fiduciary Media: Ethics is the Key

Walter Block and Laura Davidson
Journal of Business Ethics
Vol. 98, No. 3 (February 2011), pp. 505-511
Published by: Springer
Stable URL: http://www.jstor.org/stable/41476146
Page Count: 7
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The Case Against Fiduciary Media: Ethics is the Key
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Abstract

Salerno (http://mises.org/daily/4389, 2010a) asserts that in the debate between those who favor and oppose fractional reserve banking, the important issue is not whether or not this institution is inherently fraudulent, but, rather, does it or does it not cause the business cycle. We join this author in thinking both important; however, we reverse this order.

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