> Money creation by fractional reserve banking has been Econ 101 for longer than anyone currently alive. And it should have been removed decades ago. Tobin cal

> Money creation by fractional reserve banking has been Econ 101 for longer than anyone currently alive. And it should have been removed decades ago. Tobin called it "the Old View" in 1963: * https://elischolar.library.yale.edu/cgi/viewcontent.cgi?article=1387&context=cowles-discussion-paper-series https://elischolar.library.yale.edu/cgi/viewcontent.cgi?arti... See also "Teaching the Linkage Between Banks and the Fed: R.I.P. Money Multiplier": * https://research.stlouisfed.org/publications/page1-econ/2021/09/17/teaching-the-linkage-between-banks-and-the-fed-r-i-p-money-multiplier https://research.stlouisfed.org/publications/page1-econ/2021...