IPFS News Link • Economy - Economics USA
IMF Working Paper Offers Support for Full Reserve Banking
• http://www.positivemoney.org, by Mira TekelovaIn their summary the authors write [our emphasis]:
At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits.
Irving Fisher (1936) claimed the following advantages for this plan: