Discover new books on Goodreads
Meet your next favorite book
One of them is a decrease in lending, and another is an increase in trading—particularly the kind of rapid-fire computerized trading that now makes up about half of all US stock market activity.13
“Modern developments have eased the intensity of the ancient struggle between creditors and debtors. Stock markets and limited liability have provided an alternative to bank borrowing for raising capital, and the penalties for default have been progressively relaxed. We no longer demand labour services of defaulting debtors, or send them to prison. Debt-bondage is a shadow of its old self.”
― Money and Government: A Challenge to Mainstream Economics
― Money and Government: A Challenge to Mainstream Economics
“Economists whose common sense had not been completely destroyed by their theories rejected the drastic cure of destroying the existing economy in order to rebuild it in the correct proportions.”
― Money and Government: A Challenge to Mainstream Economics
― Money and Government: A Challenge to Mainstream Economics
“It is true that Keynes’s ‘model’ was a short-run model, but that’s not because he was interested only in short-run stabilization. He wanted a full employment level of investment in the short-run, so as to get to the long-run quicker.”
― Money and Government: A Challenge to Mainstream Economics
― Money and Government: A Challenge to Mainstream Economics
“Unlike the quantity theory of money, which is a ‘supply of money’ story, the credit theory of money is a ‘demand for loans’ tale. The amount of money fluctuates with the demand for loans and the creditworthiness of borrowers; and both fluctuate with the state of business.”
― Money and Government: A Challenge to Mainstream Economics
― Money and Government: A Challenge to Mainstream Economics
“Under the current US system, federal deposit insurance is capped at $250,000 per account.24 This coverage limit reflects a consumer protection philosophy; small retail account holders presumably lack the capacity to monitor bank solvency. But if we view deposit insurance through the lens of panic prevention instead of consumer protection, then the justification for coverage limits becomes far murkier. As we will see in future chapters, sophisticated institutional accounts are far more likely than small retail accounts to redeem en masse, precisely because they are paying closer attention. If panic prevention is a key goal, then coverage limits may very well undermine it.”
― The Money Problem: Rethinking Financial Regulation
― The Money Problem: Rethinking Financial Regulation
Ilseop’s 2025 Year in Books
Take a look at Ilseop’s Year in Books, including some fun facts about their reading.
0 books
|
42 friends
85 books
|
30 friends
111 books
|
43 friends
6 books
|
142 friends
6 books
|
80 friends
2 books
|
34 friends
1 book
|
23 friends
0 books
|
59 friends
More friends…
Polls voted on by Ilseop
Lists liked by Ilseop