100 percent reserve banking: A critical review of green perspectives

Ecological Economics

Volumn 109, Issue , 2015, Pages 9-16

  Dittmer, Kristofer ^a  

^a INSTITUT DE CIÈNCIA I TECNOLOGIA AMBIENTALS   (Spain)

Author keywords

100 percent reserve banking; Chicago plan; Full reserve banking; Growth imperative; Monetary reform; Steady state economy

Indexed keywords

BANKING; CAPITAL; ECOLOGICAL ECONOMICS; INVESTMENT; MONETARY POLICY; RESOURCE ALLOCATION;

EID: 84911381422     PISSN: 09218009     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ecolecon.2014.11.006     Document Type: Short Survey

References (73)

1. Admati A., Hellwig M. The Bankers' New Clothes: What's Wrong With Banking and What to Do About It 2013, Princeton University Press, Princeton, NJ.
2. Allen W.R. Irving Fisher and the 100 percent reserve proposal. J. Law Econ. 1993, 36(2):703-717.
3. Angell J.W. The 100 per cent reserve plan. Q. J. Econ. 1935, 50(1):1-35.
4. Benes J., Kumhof M. The Chicago Plan Revisited. Revised Version 2013, International Monetary Fund, Washington.
5. Berk J., DeMarzo P. Corporate Finance 2014, Pearson, Boston. Third ed.
6. Binswanger M. Is there a growth imperative in capitalist economies? A circular flow perspective. J. Post Keynes. Econ. 2009, 31(4):707-727.
7. Blauwhof F.B. Overcoming accumulation: is a capitalist steady-state economy possible?. Ecol. Econ. 2012, 84:254-261.
8. Bordo M.D. Monetary Policy, History of. The New Palgrave Dictionary of Economics Online 2008, Palgrave Macmillan, (http://www.dictionaryofeconomics.com/article?id=pde2008_H000180).
9. Bromberg B. Two neglected twentieth century 100 per cent reserve economists. Am. Econ. Rev. 1939, 29(3):553.
10. Clark D. Monetary cranks. The New Palgrave Dictionary of Economics Online 2008, Palgrave Macmillan, (http://www.dictionaryofeconomics.com/article?id=pde2008_M000198).
11. Costanza R., Alperovitz G., Daly H.E., Farley J., Franco C., Jackson T., Kubiszewski I., Schor J., Victor P. Building a Sustainable and Desirable Economy-in-Society-in-Nature 2013, ANU Press, Canberra.
12. Currie L. The Supply and Control of Money in the United States 1968 [1934a], Russell and Russell, New York.
13. Currie L. A proposed revision of the monetary system of the United States. The Supply and Control of Money in the United States 1968 [1934b], Russell and Russell, New York. L. Currie (Ed.).
14. Daly H.E. The economic thought of Frederick Soddy. Hist. Polit. Econ. 1980, 12(4):469-488.
15. Daly H.E. Allocation, distribution, and scale: towards an economics that is efficient, just, and sustainable. Ecol. Econ. 1992, 6:185-193.
16. Daly H.E. Beyond Growth: The Economics of Sustainable Development 1996, Beacon Press, Boston.
17. Daly H.E. Ecological Economics and the Ecology of Economics: Essays in Criticism 1999, Edward Elgar, Cheltenham.
18. Daly H.E. Nationalize money, not banks (accessed 07.07.14.). http://steadystate.org/nationalize-money-not-banks/.
19. Daly H.E. Paul Craig Roberts' important new book. Ecol. Econ. 2014, 101:127.
20. Daly H.E., Farley J. Ecological Economics: Principles and Applications 2011, Island Press, Washington. Second ed.
21. Dimand R.W. Cranks, heretics and macroeconomics in the 1930s. Hist. Econ. Rev. 1991, 16:11-30.
22. Douglas, P.H., Fisher, I., Graham, F.D., Hamilton, E.J., King, W.I., Whittlesey, C.R., 1939. A Program for Monetary Reform. Unpub. document, 42pp.
23. Douthwaite R. The Ecology of Money 2006, (http://www.feasta.org/documents/moneyecology/contents.htm (accessed 07.05.14.)). Revised online ed.
24. Douthwaite R. Degrowth and the supply of money in an energy-scarce world. Ecol. Econ. 2012, 84:187-193.
25. Eichengreen B. Globalizing Capital: A History of the International Monetary System 2008, Princeton University Press, Princeton, NJ. Second ed.
26. Farley J., Burke M., Flomenhoft G., Kelly B., Murray D.F., Posner S., Putnam M., Scanlan A., Witham A. Monetary and fiscal policies for a finite planet. Sustainability 2013, 5:2802-2826.
27. Fisher I. 100% money and the public debt. Economic Forum 1936, 406-420. Spring.
28. Fisher, I., 1945. 100% Money. Third ed. The City Printing Company, New Haven. Reprinted in Barber, W.J. (Ed.) (1997) The Works of Irving Fisher. Volume 11. 100% Money. Pickering & Chatto, London, pp. 11-297.
29. Fisher I. Answers to Objections to the 100% Plan. Privately printed. Volume 11. 100% Money 1946, 308-311. Reprinted in, Pickering & Chatto, London. W.J. Barber (Ed.).
30. Friedman M. A Program for Monetary Stability 1960, Fordham University Press, New York.
31. Friedman M. Factors affecting the level of interest rates. Money Supply, Money Demand, and Macroeconomic Models 1972, 200-218. Allyn and Bacon, Boston. J.T. Boorman, T.M. Havrilesky (Eds.).
32. Goodhart C.A.E. Monetary Theory and Practice: The UK Experience 1984, Macmillan, London.
33. Goodhart C.A.E. Monetary base. The New Palgrave: A Dictionary of Economics 1987, 6697-6702. Macmillan, London. J. Eatwell, M. Milgate, P. Newman (Eds.).
34. Huber, J., 2014. Many roads lead to Rome - not all by the shortest path: reflections on The Chicago Plan Revisited in comparison to plain sovereign money. Unpub. document, 32pp. (accessed 16.02.14.). http://sovereignmoney.eu/.
35. Huber J., Robertson J. Creating New Money: A Monetary Reform for the Information Age 2000, New Economics Foundation, London.
36. Ingham G. The Nature of Money 2004, Polity, Cambridge.
37. Jackson A. The Chicago plan & Positive Money's proposals - what is the difference? (accessed 17.10.14). http://www.positivemoney.org/2013/01/the-chicago-plan-versus-positive-money/.
38. Jackson A. A reply to Ann Pettifor: why there will be no "shortage of money" (accessed 01.08.14). http://www.positivemoney.org/2014/04/ann-pettifor-there-will-be-no-shortage-of-money/.
39. Jackson A., Dyson B. Modernising Money: Why Our Monetary System Is Broken and How It Can Be Fixed 2013, Positive Money, London.
40. Keynes J.M. A Treatise on Money 1965, vol. I(Macmillan).
41. Knight F. Review of Wealth, Virtual Wealth and Debt. Saturday Review of Literature 1927, 732. (April 16).
42. Knight F. Memorandum on Banking Reform. Reprinted in Phillips (1995) 1933, 191-199.
43. Kornai J. The soft budget constraint. Kyklos 1986, 39(1):3-30.
44. Kotlikoff L.J. Jimmy Stewart Is Dead: Ending the World's Ongoing Financial Plague With Limited Purpose Banking 2010, Wiley, Hoboken.
45. Kregel J. Minsky and the narrow banking proposal: no solution for financial reform. Public Policy Brief No. 125 2012, Levy Economics Institute of Bard College, Annandale-on-Hudson.
46. Laidler D. Hawtrey, Harvard, and the origins of the Chicago tradition. J. Polit. Econ. 1993, 101(6):1068-1103.
47. Lavoie M. Introduction to Post-Keynesian Economics 2006, Palgrave Macmillan, New York.
48. Lawn P. Facilitating the transition to a steady-state economy: some macroeconomic fundamentals. Ecol. Econ. 2010, 69(5):931-936.
49. Litan R.E. What Should Banks Do? 1987, Brookings Institution, Washington, DC.
50. Loehr D. The euthanasia of the rentier - a way toward a steady-state economy?. Ecol. Econ. 2012, 84:232-239.
51. Martinez-Alier J. Ecological Economics: Energy, Environment and Society 1987, Basil Blackwell, Oxford.
52. Mellor M. The Future of Money 2010, Pluto, London.
53. Mellor M. Could the money system be the basis of a sufficiency economy?. Real-World Econ. Rev. 2010, 54:79-88.
54. Mints L.W. A History of Banking Theory 1945, University of Chicago Press, Chicago.
55. Nove A. The Economics of Feasible Socialism Revisited 1991, HarperCollins, London.
56. Pettifor A. Why I disagree with Martin Wolf and Positive Money (accessed 01.08.14). http://www.primeeconomics.org/?p=2629.
57. Phillips R.J. An end to private banking: early new deal proposals to alter the role of the Federal Government in credit allocation. J. Money Credit Bank. 1994, 26(3):552-568.
58. Phillips R.J. The Chicago Plan and New Deal Banking Reform 1995, M.E. Sharpe, Armonk, NY.
59. Robertson J. Future Money: Breakdown or Breakthrough? 2012, Green Books, Totnes.
60. Romer D. Keynesian macroeconomics without the LM curve. J. Econ. Perspect. 2000, 14(2):149-169.
61. Sandilands R.J. The Life and Political Economy of Lauchlin Currie: New Dealer, Presidential Adviser, and Development Economist 1990, Duke University Press, Durham, NC.
62. Schumpeter J.A. History of Economic Analysis 1954, Allen & Unwin, London.
63. Simons H.C. Economic Policy for a Free Society 1948, The University of Chicago Press, Chicago.
64. Soddy F. Money Versus Man 1931, Elkin Mathews & Marrot, London.
65. Soddy F. Wealth, Virtual Wealth and Debt 1933, E.P. Dutton & Co, New York. Second ed.
66. Soddy F. The Role of Money 1934, Routledge, London.
67. Stiglitz J., Weiss A. Credit rationing in markets with imperfect information. Am. Econ. Rev. 1981, 71(3):393-410.
68. Turner A. What do banks do? Why do credit booms and busts occur and what can public policy do about it?. The Future of Finance 2010, 5-86. London School of Economics, London. A. Turner (Ed.).
69. Werner R.A. A reconsideration of the rationale for bank-centered economic systems and the effectiveness of directed credit policies in the light of Japanese evidence. Jpn. Econ. 2002, 30(3):3-45.
70. Wolf M. Speech given at "Does Money Grow on Trees?" 2014, ICAEW, London, (9 September. https://www.youtube.com/watch?v=B_rTSYo_CkQ (accessed 23.10.14)).
71. Wolf M. The Shifts and the Shocks: what we've learned - and have still to learn - from the financial crisis 2014, Allen Lane, London.
72. Wolf M. Strip private banks of their power to create money. Financial Times 2014, (24 April).
73. Wray L.R. Debt-free money: a non-sequitur in search of a policy (accessed 04.07.14.). http://neweconomicperspectives.org/2014/07/debt-free-money-non-sequitur-search-policy.html.