Fractional reserve banking is (with the "For Profit" Corporation) one of the chief drivers of inflation

There is nothing wrong with inflation that cannot be solved by index-linking wages and public transfers and pursuing an active exchange rate policy.

and also of unrestricted and unsustainable economic growth.

The monetary system is the tail. The dog is the fact that our societies fail to price in externalities and seek to punish everyone who does not clock a full 40 hour work week.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.