Economics of Knowledge And Social Intelligence
George Reisman, who is associated with the Mises Institute, has written an interesting article called “Our Financial House of Cards“. As a student of Ludwig von Mises, he exemplifies the thinking of the Austrian School of Economics which is, like … Continue reading →
19. April 2008 by kasi
Categories: Discussions |
Tags: austrian school of economics, banks, credit rating agencies, economic theory, george reisman, goverment-sponsored-mortgage-lenders, libertarian, ludwig von mises, minimum capital requirement, subprime crisis |
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When defining Financial Stability, the authors of the book on “Global Financial Governance” stated that financial stability is a “public good [which] will never be provided adequately by the market without regulatory intervention” (p. 18). In the traditional meaning, a … Continue reading →
14. April 2008 by kasi
Categories: Memo |
Tags: economic theory, financial stability, global governance, John Eatwell, Kern Alexander, public good, wikipedia |
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How does banking work? You take rich people’s money and lend it to suitabe people at an interest, and give as little as possible of the interest back. What is a suitable person? Someone who can prove they don’t need the money, so not poor people.
— Terry Pratchett
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