A Financial Theory of the Business Cycle: Net Present Value and Fractional Reserve Banking

by Edward W. Fuller and Warren Young

A Financial Theory of the Business Cycle presents a new approach to business cycle theory based on the net present value. The book develops a novel diagrammatic approach to illustrate how fractional reserve banking systematically distorts net-present-value calculations. In addition to providing fresh insights, the new diagrammatic approach provides a comparative framework that can be used to compare pre-existing theories, including those...

• Format: Hardcover
• Language: English
• ISBN: 1032867590
• ISBN13: 9781032867595
• Release Date: February 2025
• Publisher: Routledge
• Length: 288 Pages