When I recently (episode 745) spoke to Professor Jeffrey Herbener about the economic effects of fractional-reserve banking, I recalled that John Tamny and I had had a disagreement on the subject. So for this episode I’ve invited both of these gentlemen for a formal debate on the subject. I think you’ll find the result enlightening.
About the Guests
Jeffrey M. Herbener is chairman of the department of economics at Grove City College and associate editor of the Quarterly Journal of Austrian Economics. He has also produced economics courses for Liberty Classroom.
John Tamny is editor of RealClearMarkets.
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Related Articles
“Let’s Ditch the Fed for the Right Reasons,” by Jonathan Newman
“Austrians, Fractional Reserves, and the Money Multiplier,” by Robert Batemarco
“It’s Time for the Austrian School to Rethink the Business Cycle,” by John Tamny
“The Fed And The Great Depression: A Myth That Just Won’t Die,” by John Tamny
Guest’s Books
Popular Economics: What the Rolling Stones, Downton Abbey, and LeBron James Can Teach You about Economics
Who Needs the Fed? What Taylor Swift, Uber, and Robots Tell Us About Money, Credit, and Why We Should Abolish America’s Central Bank
Guest’s Twitter
Related Episodes
Ep. 745 The Economics of Fractional-Reserve Banking (Jeff Herbener)
Ep. 686 We Don’t Need the Fed, a Central Planning Agency (John Tamny)
Previous Appearances
Ep. 723 Austrian Criticisms of Mainstream Economics Are Sound: Reply to a Critic (Jeff Herbener)
Ep. 664 How the Fed Screwed Up Before and During the Great Depression (Jeff Herbener)
Ep. 529 Leftist Site Attacks Gold Standard; Here’s Our Smackdown (Joe Salerno and Jeff Herbener)
Ep. 527 Is Austrian Economics Unscientific Because It Doesn’t Conduct Experiments? (Jeff Herbener)
Ep. 513 Can We Decide on a Main Problem with Socialism? Also: Why the Austrians Are Right About Monopoly (Jeff Herbener)
Ep. 488 Welfare Economics: Rothbard Was Right (Jeff Herbener)
Ep. 456 Monopoly Is Everywhere, Say Mainstream Economists; Austrians Roll Eyes (Jeff Herbener)
Ep. 403 Austrian Microeconomics: Where the Critics Go Wrong (Jeff Herbener)
Ep. 379 How to Think About Outsourcing, Inequality, Energy Independence, and Lots of Other Things (John Tamny)
Ep. 269 End the Fed, Then What? (Jeff Herbener)
Ep. 257 Austrian Economics vs. a Mainstream Text (Jeff Herbener)
Ep. 172 The Fallacies of GDP (Jeff Herbener)
Ep. 130 The Fallacies of ‘Public Goods’ (Jeff Herbener)
Other Podcast
Enjoy the Tom Woods Show? You’ll love my once-a-week podcast with Bob Murphy, Contra Krugman!
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