Em defesa do free banking fracionário
De volta aos fundamentos
DOI:
https://doi.org/10.30800/mises.2021.v9.1361Palavras-chave:
dinheiro, livre mercado, sistema bancário fracionalResumo
O artigo retoma a discussão austríaca entre os chamados fracionários e reservistas (1994 - 2005) e a discussão relacionada sobre o problema de correspondência incorreta de maturidade (2009 - 2019). A diferença do artigo está no enfoque nos argumentos fundamentais: visão ontológica sobre moedas como produtos bancários (IOUs) e dinheiro, a questão do poder de compra do dinheiro e o problema do descasamento de prazos. O artigo mostra a atividade bancária como uma superestrutura evolutiva vital que os humanos usam para descobrir a utilização marginal dos recursos de capital existentes. Afirma-se que a superestrutura bancária efetivamente descobre a coincidência dos juros monetários com os níveis naturais de juros e as preferências temporais da sociedade. A tese defende a superioridade do free banking fracionário sobre o reservista. Será mostrado que o free banking fracionário, em sua forma teórica, não é baseado em violações de direitos de propriedade e não causa ciclos econômicos de expansão e contração sistemáticos além daqueles relacionados a erros naturais de negócios.
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