Award Date

1-1-1991

Degree Type

Thesis

Degree Name

Master of Arts (MA)

Department

Economics

First Committee Member

Murray N. Rothbard

Number of Pages

99

Abstract

This thesis is a theoretical criticism of fractional reserve banKing The Austrian school (especially the works of Mises, Hayek and Rothbard), consider credit expansion to be the genesis of macro-economic instability; This study applies Austrian interest, capital and business cycle theory to challenge the widely held assumption that our present economic system is fundamentally sound. Using a theoretical construct known as the "Angel Gabriel Model", the devastating consequences of continuing credit expansion are explored. Fractional reserve free banking is also considered within this model and found to be an unsatisfactory option when compared to 100 percent reserve banKing In conclusion, policy proposals and system transition are considered in the event of a general economic collapse.

Keywords

Austrian; Austrian Theory; Banking; Fractional; Genesis; Instability; Macro; Reserve; Theory

Controlled Subject

Economics; Commerce; Banks and banking

File Format

pdf

File Size

3194.88 KB

Degree Grantor

University of Nevada, Las Vegas

Language

English

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