Joakim Book holds a masters degree from the University of Oxford and was a visiting scholar at the American Institute for Economic Research in the fall of 2018.
To remain consistent, opponents of so-called fractional-reserve banking have to denounce overbooking practices among airlines as well as the entire business of insurance.
Why wouldn’t we want safe and stable banks? Like almost everything else in economics, benefits in one area comes with real costs in others.
Seismologists can’t predict earthquakes. Economists can predict financial meltdowns? Please.