Economics Dictionary of ArgumentsHome
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| Bank reserves: Bank reserves are the portion of a bank's deposits held in cash or as balances with the central bank, ensuring liquidity and meeting regulatory requirements. Reserves support withdrawals, interbank payments, and monetary policy implementation. They consist of required reserves, mandated by law, and excess reserves, held voluntarily for additional liquidity. See also Banks, Money supply, Credit, Interest rates._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Dictionary of Arguments. | |||
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William Stanley Jevons on Bank Reserve - Dictionary of Arguments
Rothbard III 811 Bank reserve/Jevons/Rothbard: The criticism [of a 100-percent bank reserve] may be obviated by imposing a 100-percent-reserve requirement, not as an arbitrary administrative fiat of the government, but as part of the general legal defense of property against fraud. Jevons: As Jevons stated: "It used to be held as a general rule of law, that any present grant or assignment of goods not in existence is without operation“.(1) Rothbard: …and this general rule need only be revived and enforced to outlaw fictitious money-substitutes. Then banking could be left perfectly free and yet be without departure from 100-percent reserves. Jevons: „If pecuniary promises were always of a special character, there could be no possible harm in allowing perfect freedom in the issue of promissory notes. The issuer would merely constitute himself a warehouse keeper and would be bound to hold each special lot of coin ready to pay each corresponding note.“(2) >Banks/Rothbard, >Money substitutes/Rothbard, >Money market/Rothbard. 1. Jevons, Money and the Mechanism of Exchange, pp. 211-12. 2. Ibid., p. 208._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. "Vs" indicates differences in content, not necessarily the chronological progression of a controversy. If a German edition is specified, the page numbers refer to this edition. |
Jevons I William Stanley Jevons The Theory of Political Economy London 1871, 2015 Rothbard II Murray N. Rothbard Classical Economics. An Austrian Perspective on the History of Economic Thought. Cheltenham, UK: Edward Elgar Publishing. Cheltenham 1995 Rothbard III Murray N. Rothbard Man, Economy and State with Power and Market. Study Edition Auburn, Alabama 1962, 1970, 2009 Rothbard IV Murray N. Rothbard The Essential von Mises Auburn, Alabama 1988 Rothbard V Murray N. Rothbard Power and Market: Government and the Economy Kansas City 1977 |
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