The purpose of the banking system

Devin posts a proposal to reform the banking system, with which I largely agree.

The proposal at first seems as though it could possibly be implemented. However, I think it’s unlikely, since it assumes that the government wants to "allow for bottom up, entrepreneurial decision making about who gets credit" instead of favoring certain groups or certain types of lending. Further, it assumes that power can be taken away from the Fed – I just don’t see how that’s possible.

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3 Responses to The purpose of the banking system

  1. I agree. Plan Finbarr has no chance of happening. All of my policy proposals, of course, are not practical proposals but foils to demonstrate the intellectual bankruptcy of the mainstream debate.

  2. […] and Aretae both noted (here and here) that my recent banking reform proposal has no chance of […]

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