I was under the impression that there has been a variety of opinions concerning fractional-reserve banking in the Austrian School. While Rothbard was fervently

I was under the impression that there has been a variety of opinions concerning fractional-reserve banking in the Austrian School. While Rothbard was fervently opposed to it and Mises was hostile to it, I know that Hayek, at least, believed a fractional-reserve banking system to be necessary for an efficient economy.