Credit creation or financial intermediation?: Fractional-reserve banking in a growing economy

Cochran, John P.; Call, Steven T.; Glahe, Fred R.

doi:10.1007/s12113-999-1020-0

Cited by 13 publications

(8 citation statements)

References 20 publications

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“…Sin an interesting article, Cochran, Call, and Glahe (1999) suggest the possibility that some of what we have identified as exogenous shocks may, in reality, be endogenous responses to previous government interventions of the credit creation (or destruction) variety. Such interrelationships would support Austrian business cycle theory.…”

Section: The Significance Of Discoordination Patternsmentioning

confidence: 93%

The fraud of macroeconomic stabilization policy

Gallaway

Vedder

2000

Quart J Austrian Econ

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Section: The Significance Of Discoordination Patternsmentioning

confidence: 93%

The fraud of macroeconomic stabilization policy

Gallaway

Vedder

2000

Quart J Austrian Econ

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“…Hoppe (1994, pp. 65-74), Hoppe et al (1998, Cochran andCall (1998), andGlahe (1999) provide modern extensions of this argument. To the extent that agents attempting to build up cash balances reduce their spending on assets or attempt to increase their sales of assets instead of on other present goods, time preference has increased (in addition to the increased preference for real cash balances).…”

Section: Banking Theory and The Trade Cyclementioning

confidence: 97%

Free banking and credit creation: Implications for business cycle theory

Cochran

Call

2000

Quart J Austrian Econ

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“…If so, there is monopoly, no matter how many companies there are 54 ; if not, there are single sellers, but no untoward monopoly. 55 [ Barnett and Block 2005, 2006A, 2006B, 2008Block, 2001;Block and Barnett, 2007;Cochran, Call, and Glahe, 1999;Cochran and Call, 1998;Cochran and Glahe, 1994;Cochran, , 2001A, 2001B, 2001C 2003Cochran, , 2009Gunning, 1985;Murphy, 2008A, 2008B, 2008C, 2009A, 2009B, 2009C;Raj, 2008;Ritenour, 2000;Salerno, 1989Salerno, , 1996Salerno, . 1999Salerno, , 2000Sechrest, 1998;Woods, 2009A, 2009B 53 For a bibliography of the Austrian analysis of competition and monopoly, and thus anti trust, see: Anderson, et.…”

Section: Best Regards Waltermentioning

confidence: 99%

“…. [A]ny argument proclaiming the right and goodness of, say, three neighbors, who yearn to form a string quartet, forcing a fourth neighbor at bayonet point to learn and play the viola, is hardly deserving of sober comment.‖ For more on this see Block, 2007, 2009;Block, 1983Block, , 2000Block, , 2003Bibliography, undated;Cowen, 1988;De Jasay, 1989;Holcombe, 1997;Hoppe, 1989;Hummel, 1990;Osterfeld, 1989;Pasour, 1981;Rothbard, 1985Rothbard, , 1997Schmidtz, 1991;Sechrest, 2003Sechrest, , 2004A, 2004B, 2007 Here are some Austro libertarian criticisms of the infamous Coase theorem: Block (1977Block ( , 1995Block ( , 1996Block ( , 2000Block ( , 2003Block ( , 2006Block ( , 2010, forthcoming, unpublished A, unpublished B), Block, Barnett and Callahan (2005), Block (2007, 2009), Cordato (1989Cordato ( , 1992aCordato ( , 1992bCordato ( , 1997Cordato ( , 1998Cordato ( , 2000, Hoppe (2004), Krause (1999), Krecke (1996), Lewin (1982), North (1990North ( , 1992North ( , 2002, Rothbard (1982), Stringham and White (2004) and Terrell (1999) theft? (Block, 2000).…”

Section: Best Regards Waltermentioning

confidence: 99%

Destined for failure: American prosperity in the age of bailouts

Sánchez-Albornoz¹,

Kopp²,

Sanzari³

2011

Choice Reviews Online

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It is a pleasure to write a review of this book (by the way, this will be a very unorthodox book review, see below). Full disclosure here: Nick Sanchez is an old and dear friend, and a former colleague of mine when we overlapped, for six years, 1991-1997, as professors of economics at Holy Cross College. One of my own contributions to student development is that I have co authored numerous refereed articles in scholarly journals with members of my undergraduate classes. Well, Nick has done me one better in this regard: this entire book is co-authored with two of his undergraduate students, Christopher Kopp and Francis Sanzari. This must surely be a rarity in publishing. Indeed, I know of no other case where a professor has co authored a full length book with undergraduates. I really regard this as a stupendous accomplishment. My own articles with students take up anywhere from 10 to 20 published pages; this is an entire book stretching on for 224 pages. These student co authors of his must be very exceptional young men. As to the book itself, it will be a welcome one for Austro-libertarians, even though Sanchez is not himself a member of the praxeological school of economics. First and foremost in this regard is his brilliant Keynesian bashing. Full stop. I am now no longer continuing to write a review of this book. True confession here: I wrote the previous sentence before I saw any Keynesian bashing in the book. At this point I started to look for some; I found very little. That is one of the reasons I stopped writing the review. In my defense, I am now unburdening my soul. Yes, sometimes, as in this case, I write before I know what I'm talking about. But, that was only a first draft. My critics may charge me with doing this in publications, too. However, as far as I am concerned, I really do try to clean up matters of this sort before going into print. So, as I say, I am now leaving off writing this book review. Instead, gentle reader, I am now directly addressing you. Consider this a side note, off the topic of the book review, at least for the moment. I got this far in the book review, and I just couldn't continue. Hey, I told you that this would be an unorthodox book review! At this point, I wrote a letter to the main author of this book, Prof. Nick Sanchez. Here is that letter (a hint to those who might become

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Credit creation or financial intermediation?: Fractional-reserve banking in a growing economy

Cited by 13 publications

References 20 publications

The fraud of macroeconomic stabilization policy

The fraud of macroeconomic stabilization policy

Free banking and credit creation: Implications for business cycle theory

Destined for failure: American prosperity in the age of bailouts

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