Simons, Henry Calvert, 1899-1946

American economist

Henry Calvert Simons was an American economist at the University of Chicago. A protégé of Frank Knight, his anti-trust and monetarist models influenced the Chicago school of economics. He was a founding author of the Chicago Plan for monetary reform that found broad support in the years following the 1930s Depression, which would have abolished the fractional-reserve banking system, which Simons viewed to be inherently unstable. This would have prevented unsecured bank credit from circulating as a "money substitute" in the financial system, and it would be replaced with money created by the government or central bank that would not be subject to bank runs. (Source: Wikipedia)

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