Finance at the Threshold: Rethinking the Real and Financial Economies Budd Christopher Houghton
Every banking crisis, whatever its particular circumstances, has two features in common with every previous one. Each has been preceded by a period of excessive monetary ease, and by ill thought out…
Specifikacia Finance at the Threshold: Rethinking the Real and Financial Economies Budd Christopher Houghton
Every banking crisis, whatever its particular circumstances, has two features in common with every previous one. Each has been preceded by a period of excessive monetary ease, and by ill thought out regulatory changes. For many the recent hiatus in inter-bank lending has been seen as a blip - enormous in size and global in scope, but, nonetheless, a blip. Finance at the Threshold offers a unique perspective from an English economic and monetary historian. In it the author asks: Why did the banks stop lending to one another, and why now? Was it merely a matter of over-loose credit due to the relaxation of traditional prudence, or did global finance find itself at its limits? Have government bail-outs saved the day or merely postponed the problem? Christopher Houghton Budd offers a radical view of the global financial crisis, spanning a wide gamut of current thinking. He argues that we
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