THE FINANCIAL ECONOMY MYTHS: PRIVATE PLACEMENT PROGRAM
The myth of financial intermediation has been invented to distract attention from the natural function of banks. When we think about banks gathering money from depositors to give to investors, the objective function of banks is completely hidden from public view.
Economic textbooks ignore these functions, and macroeconomic models do not mention the banking sector in terms of private placement prog...
The myth of financial intermediation has been invented to distract attention from the natural function of banks. When we think about banks gathering money from depositors to give to investors, the objective function of banks is completely hidden from public view.
Economic textbooks ignore these functions, and macroeconomic models do not mention the banking sector in terms of private placement prog...
