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This is a personal project by @dellsystem. I built this to help me retain information from the books I'm reading.

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a set of banking reforms suggested by University of Chicago economists in the wake of the Great Depression; supported by Friedman, Minsky, Fisher, etc; suggested 100% reserves on demand deposits; never fully implemented (some watered-down versions eventually made it into policy)

the system of 'fractional reserve banking', under which banks create deposits to finance risky lending and so have insufficient safe cash reserves to back their deposits. The elimination of fractional reserve banking was a proposal put forward in 1933 as the 'Chicago Plan'.

—p.261 Innocence Regained: Reforming Money and Banking (250) by Mervyn King
6 years, 3 months ago