This is a preview of subscription content, log in via an institution to check access.
Notes
The author, in the conclusion (p. 342), mentions that this argument is what convinced him on the desirability of 100 % reserves.
References
Cochrane, J. H. 2014. Towards a run-free financial system. Working paper. Available online at: https://faculty.chicagobooth.edu/john.cochrane/research/papers/run_free.pdf.
Greenfield, R. L., & Yeager, L. B. (1983). A laissez-faire approach to monetary stability. Journal of Money, Credit, and Banking, 15(3), 302–315.
Kotlikoff, L. J. (2011). Jimmy Stewart is dead: ending the world’s ongoing financial plague with limited purpose banking. Hoboken: John Wiley & Sons.
Mises, L. V. (1948). Human action: a treatise on economics. New Haven: Yale University Press.
Salter, A. W. (2014). Is there a self-enforcing monetary constitution? Constitutional Political Economy, 25(3), 280–300.
Salter, A. W. 2015. Robust political economy and the lender of last resort. Journal of financial services research. doi:10.1007/s10693-015-0219-9.
Salter, A. W. and Hendrickson, J. R. 2015. The constitution of a financial system. Working paper. Available online at: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2682624.
White, L. H. (1986). Competitive payments systems: a reply. American Economic Review, 76(4), 850–853.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
About this article
Cite this article
Salter, A.W. Leonidas Zelmanovitz, The Ontology and Function of Money: The Philosophical Fundamentals of Monetary Institutions . Rev Austrian Econ 30, 397–400 (2017). https://doi.org/10.1007/s11138-016-0342-3
Published:
Issue Date:
DOI: https://doi.org/10.1007/s11138-016-0342-3