Financial Crisis and Economic Recession
AbstractThe logic of the historical evolution of the wrong institutional design that affects the financial and monetary system of the so called free market economies up to day is somehow easy to understand: bubbles did continue, financial crisis and economic recessions were not avoided, the bail out of banks was regularly demanded, the lender of last resort was created precisely to bail out the banks.
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Bibliographic InfoArticle provided by Romanian Society for Economic Science, Revista OEconomica in its journal Revista OEconomica 01/2011.
Volume (Year): (2011)
Issue (Month): 01 (March)
state; market; central banking; fractional reserve banking; fiduciary media; economic crisis;
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