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5min chapter
Unpacking Mises: Fractional Reserve Banking and the Currency School
The Human Action Podcast
The Impact of Peel's Act on Banking Crises
This chapter explores the shortcomings of Peel's Act in regulating fractional reserve banking and its failure to avert economic crises. It examines Mises's analysis of money substitutes and discusses how the insufficient backing of demand deposits has perpetuated boom-bust cycles in Great Britain.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode