We have today a hybrid of two forms of banking — loan banking (non-inflationary) and deposit banking (inflationary if not 100% reserve holdings).  The cause of booms is the credit expansion by central banks that is not backed by pools of private savings.

We have today a hybrid of two forms of banking — loan banking (non-inflationary) and deposit banking (inflationary if not 100% reserve holdings). The cause of booms is the credit expansion by central banks that is not backed by pools of private savings.

We have today a hybrid of two forms of banking —&nbsp;loan banking (non-inflationary) and deposit banking (inflationary if not 100% reserve holdings). &nbsp;The cause of booms is the credit expansion by central banks that is not backed by pools of private savings.

10. Banking and the Business Cycle

Joseph T. Salerno and Peter G. Klein are two of the most productive micro-economists in the Austrian School today. This seminar provides an introduction to Austrian Economics. Presented at the Mises Institute, 11-15 June 2007.

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10. Banking and the Business Cycle

10. Banking and the Business Cycle

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