MC341 The Chicago Plan of 1932
From Ross B Emmett on June 30th, 2016
Description of plan proposed by University of Chicago economists in 1932. The plan would nationalize the Federal Reserve section, ending fractional banking (100% reserve requirement) and giving government monopoly control over money supply. The consequence of the plan would have been to separate money and credit -- to put money creation in the hands of the government, and loan provision in the hands of the banks.