• Article

      THE CENTRAL BANKING SYSTEM PARADOX (2024) 

      Espinosa, Víctor I.; Alonso-Neira, Miguel A.; Huerta de Soto, Jesús (Centre of Sociological Research, 2023)
      The conventions of monetary theory assume the central banking system (CBS) as the starting point for achieving the stability and efficiency of the financial system. This paper stresses the stability-efficiency thesis based ...
    • Article

      The Ethics of Fractional-Reserve Banking System: A Private Property Rights Approach (2024) 

      Espinosa, Víctor I.; Alonso-Neira, Miguel A.; Huerta de Soto, Jesús (Multidisciplinary Digital Publishing Institute (MDPI), 2023)
      It is generally stated that the fractional-reserve banking system (FRBS) is consistent with sustainable economic growth and development. While it assumes that depositors will not be a joint demand who will claim all their ...