That is the title of a new working paper from the IMF. I would be very interested in hearing the opinions of Steve Horwitz, Larry White, George Selgin, Gearld O'Driscoll and Richard Ebeling on this discussion of the reconsideration of the Chicago Plan as an answer to financial instability.
Just the other day I was speaking with David Levy about Leland Yeager's In Search of a Monetary Constitution, and in particular Murray Rothbard's contribution to that volume. One must realize that Rothbard's positon is not out of step in the least withn that context. Rothbard is, as we all know, an advocate of a full-reserve system. But that is not as unusual as one might first think. Irving Fisher, Henry Simons, and Milton Friedman all wrote defenses of full-reserve banking.