Wouldn’t this allow others to set up competing banks, or just competing lending agencies, and make good profits?
Mostly, the Austrian response to that seems to be “Go ahead, but I’d never use them”. Apparently, full-reserve banks are a service people are willing to pay for. (And they do. They’re called “safety deposit boxes”.)
Wouldn’t this allow others to set up competing banks, or just competing lending agencies, and make good profits?
Mostly, the Austrian response to that seems to be “Go ahead, but I’d never use them”. Apparently, full-reserve banks are a service people are willing to pay for. (And they do. They’re called “safety deposit boxes”.)