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Unpacking Mises: Fractional Reserve Banking and the Currency School

The Human Action Podcast

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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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