Fractionality reserve banking may appears to be practical as follows the short run but since it is certainly not practical in the long run or even in the medium run 'And – if one holds that “the moral is the practical”'it has hardly moral)
Fractional reserve banking may appear to be practical in the (very) short run; but it is certainly not practical in the long run (or even in the medium run). And – if one holds that “the moral is the practical” – it is hardly moral either.