Following the Financial Crisis of 2008, Western financial systems have been subject to much political debate. Severe misallocations of credit in the years leading up to the subprime mortgage led to excessive housing construction and speculation, culminating in a financial catastrophe. With this said, the role of large commercial and retail banks particularly hasn’t beenContinue reading “Quantity Theory of Credit: Better Banking?”
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Great Recession: Monetary failure
A calamity that shaped the past decade, the Great Recession marked an end to the Great Moderation, three decades of prosperity. The root causes behind the Financial Crisis and the subsequent Great Recession are complex. A speculative shadow banking sector was supported by reckless Central Banks, bailing out financial institutions and promoting the culture ofContinue reading “Great Recession: Monetary failure”
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