The banking system we take for granted is unfixable. The good news is that we no longer need to rely on any private, rent-seeking, socially destabilizing network of banks, at least not the way we have so far.
shows why the current private system is unfixable – and why we don’t need to tolerate it anymore.
Like Vladimir Putin, China's leader is so steeped in a narrative of victimhood and fearful of appearing weak that it is hard to imagine him ever leading China out of the mess he has created. He could well be remembered as the leader who squandered history's most remarkable economic success story.
about the country's increasingly worrisome trajectory, both at home and abroad.
Artificial IdiocyFrank Rumpenhorst/picture alliance via Getty Images
蒙得维的亚—在发展中国家,想要说服人们相信金融不是贬义词,金融体系未必是一套只服务于富人、把国民财富转移到海外的邪恶机制,这是一个挑战。关键问题是我们想要什么类型的金融体系,以及我们如何做才能实现。
更包容、更普及的金融体系可以提高经济增长,减少贫困和不平等,刺激社会包容。此外,政府可以在通过积极实施金融包容政策实现发展目标方面起到关键作用。
长期以来,信息不对称和金融机构对潜在客户及其需求缺乏了解让大量发展中国家人口无法进入金融体系。但长期来看,解决这些市场失灵的政策能产生积极的经济溢出效应,改善金融稳定。
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