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The "Great Moderation" and Glass-Steagall

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blakea89 posted on Tue, Mar 6 2012 3:18 PM


Hey everyone, I'm new on here, but I'm hoping to find some resources to further my work.


I'm trying to write a paper for my senior thesis at undergrad addressing the issues involved with a fractional reserve banking system. I'm constantly at odds with the department, as they are all Keynesians, and was hoping to find some resources on the most frequent criticism they have; that the "Great Moderation" that followed the ending of World War II and the passage of Glass-Steagall proves that there is stability within a fractional-reserve system with the proper amount of government regulation. I realize that this period coincides with the ending of the most devastating war the world had ever seen and that there was a great deal of inflation during this period, but are there other issues I can address? Or specifically, are there issues that Glass-Steagall would have prevented if it was still around during the current crisis? 


Thanks so much for the help.


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Tom Woods has done a good job smacking down the Glass-Steagall red herrings. Link.

"I don't believe in ghosts, sermons, or stories about money" - Rooster Cogburn, True Grit.
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