What is the Latin for 'Mayonnaise'? A Response to Bagus, Howden and Gabriel

• Published in: Journal of business ethics Vol. 131; no. 3; pp. 619 - 623
• Main Author: Evans, Anthony J.
• Format: Journal Article
• Language: English
• Published: Dordrecht Springer 01.10.2015; Springer Netherlands; Springer Nature B.V
• Subjects: Banking; Banking industry; Banks; Business and Management; Business Ethics; Debates; Demand deposit accounts; Dictionaries; Education; Ethics; Insurance policies; Management; Philosophy; Probability; Quality of Life Research; Reserve requirements; Solvency; Studies; Time deposits; Banking; Demand deposits; Fractional-reserve banking; Fraud; Maturity mismatching; 100 % reserve requirement

If fractional-reserve demand deposits are common, and illegitimate, an obvious flaw in the banking system is exposed. However, this article maintains that the only reason why demand deposits may be considered illegitimate is because of a way of defining them that renders them almost irrelevant. This...