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David Hume on Banking and Hoarding.
- Source :
- Southern Economic Journal; Apr2014, Vol. 80 Issue 4, p968-980, 13p
- Publication Year :
- 2014
-
Abstract
- David Hume opposes banks and favors hoarding. The only bank he reluctantly approves of is a public, 100% reserve bank. Other banks increase money supply and prices, hindering exports and economic growth. For Hume, a 100% reserve public bank would lead to "the destruction of paper-credit" ([1752] 1985, p. 285), fostering economic growth instead by preventing inflation. Additionally, a 100% reserve bank hoards a large quantity of gold and silver, which is available in case of national emergency. [ABSTRACT FROM AUTHOR]
- Subjects :
- COMPULSIVE hoarding
BANKING industry
ECONOMIC development
MONEY supply
Subjects
Details
- Language :
- English
- ISSN :
- 00384038
- Volume :
- 80
- Issue :
- 4
- Database :
- Complementary Index
- Journal :
- Southern Economic Journal
- Publication Type :
- Academic Journal
- Accession number :
- 95738973
- Full Text :
- https://doi.org/10.4284/0038-4038-2013.163