From the Louisiana Civil Code:
Art. 2931. Use of the thing deposited
The depositary may not use the thing deposited without the express or implied permission of the depositor.
Consider this in light of advocates of fractional-reserve banking, who claim that the customer who lends money to a “bank” can naturally be referred to as a “depositor.” Really?
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Stephan Kinsella is a libertarian writer and patent attorney in Houston, Texas. He has published widely on various areas of libertarian legal theory and on legal topics such as intellectual property law and international law. His publications include Legal Foundations of a Free Society (Papinian Press, 2023), Against Intellectual Property (Mises Institute, 2008), and International Investment, Political Risk, and Dispute Resolution: A Practitioner’s Guide (Oxford, 2020).
My Failed Libertarian Speaking Hiatus; Memories of Mises Institute and Other Events, 1988–20192025
The Libertarian Standard (TLS)
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