Has Fractional-Reserve Banking Really Passed the Market Test?

Economic booms and busts started occurring in medieval Florence when the Medici Bank started up the process of fractional reserve banking, in the fourteenth century, which inevitably ended with the collapse of the Medici empire
Speaking of 'free' fractional reserve banking vs. 100% reserve banking, Jörg Guido Hülsmann has written an excellent short monograph on the subject, which you can find here:

=> http://www.independent.org/pdf/tir/tir_07_3_hulsmann.pdf

HT to Paul