Politics, Not the Market, Makes Banking Unstable
Is fractional-reserve banking inherently unstable? Over at National Review, Edwin Burton, a visiting economics professor at the University of Virginia, argues that the “mismatch between the maturity of the source of funds and the maturity of the use of funds” creates a run-prone system.
United Kingdom United States Edwin Burton Signature Bank American Institute For Economic Research Politics Over At National
Source: cnsnews.com