The proposal discussed in the 1930s at the University of Chicago (Illinois, U.S.A.) to ban the creation of money by banks and to allow only full money. It was believed that loans granted by banks could easily lead to crises in the economy as a whole and lead it into a depression. – To this day, the Chicago Plan is recommended by some as the solution to all economic problems.
Others see rather disadvantages in the complete transformation (radical alteration) of the present conditions. Basically, the dispute revolves around the question of how scarce resources – and here money as a claim on them – can be directed to the best host (could find the way to the most effective production). – See Free Banking, Money, Private.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/