Abstract
The financial system, with its many institutions and channels for transfer of money closely resembles a road transport system. Well-managed roads enable people and goods to move where they need to go, quickly and without too many accidents; a good financial system efficiently allocates resources to where they are needed in the real economy without too many crises en route. Clearly we do not have such a system. … This book provides some thoughts on how best to redesign the system.
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