An End to Private Banking: Early New Deal Proposals to Alter the Role of the Federal Government in Credit Allocation
评估了1930年代经济学家提出的货币改革方案，这些方案旨在区分货币与信贷以避免贷款社会化，并分析了它们未被采纳的原因，为当今增强货币控制和减少联邦信贷分配的政策变革提供借鉴。
In the 1930s, monetary reform proposals put forward by economists sought to avoid the socialization of lending by facing squarely the problem of distinguishing between money and credit. Had these proposals been fully implemented in place of the New Deal banking legislation, the role of the federal government in credit allocation might have been radically different. In this paper, these proposals will be evaluated and the reasons they were not adopted will be examined. Lessons can then be drawn for policy changes today that would both enhance monetary control and reduce the demands for more federal government credit allocation. Copyright 1994 by Ohio State University Press.