Does Fractional Reserve Banking Endanger the Economy? A Debate by The Soho Forum published on 2018-08-19T21:00:09Z April 16, 2018 Resolution “Fractional reserve banking poses a threat to the stability of market economies." For the affirmative: Robert P. Murphy is Research Assistant Professor with the Free Market Institute at Texas Tech University. He has a PhD in economics from NYU. Murphy is also Senior Economist with the Institute for Energy Research (IER), Senior Fellow with the Mises Institute, Senior Fellow with the Fraser Institute, and Research Fellow with the Independent Institute. He has authored hundreds of articles and several books explaining economics to the layperson, including Choice: Cooperation, Enterprise, and Human Action. For the negative: George Selgin is a senior fellow and director of the Center for Monetary and Financial Alternatives at the Cato Institute and Professor Emeritus of Economics at the University of Georgia. His research covers a broad range of topics within the field of monetary economics, including monetary history, macroeconomic theory, and the history of monetary thought. He is the author of The Theory of Free Banking; Bank Deregulation and Monetary Order; Less Than Zero: The Case for a Falling Price Level in a Growing Economy; and, most recently, Good Money: Birmingham Button Makers, the Royal Mint, and the Beginnings of Modern Coinage.