From: N Sent: Monday, April 24, 2017 9:45 AM To: wblock@loyno.edu Subject: Overselling versus Fractional Reserve Currency What in principle is different about United Airlines overselling seats on a plane, with a carriage contract allow them to deny a seat, and a bank “overselling” deposits by lending out most of what is deposited while having the contractual right to deny withdrawal during a run? Dear N: Read this article for the answer to your question: Hoppe, Hans-Hermann, with Guido Hulsmann and Walter E. Block. 1998. “Against Fiduciary Media,” Quarterly Journal of Austrian Economics, Vol. 1, No. 1, pp. 19-50, http://www.mises.org/journals/qjae/pdf/qjae1_1_2.pdf; … Continue reading Airline Overbooking and Fractional Reserve Banking