Category Archive: Banking analysis

Feb 04

The “electrified ring fence” – does it go far enough?

The announcement by the Chancellor of the Exchequer that the UK Government will introduce an “electrified ring fence” around core retail banking activities, with draconian sanctions for any banks that breach it, is to be welcomed. However, it begs the obvious question. If it is so desirable to keep retail banking activities separate from investment …

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Jan 19

Towards a new international monetary framework

Yesterday, I participated in what was, for me, a very stimulating meeting of the Joint Task Force on International Monetary Reform at the Institute of Economic Affairs in a snow-bound London. It started with a debate over the origins of the financial crisis. Charles Dumas set out his “savings glut” theory, which states that the …

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Permanent link to this article: http://www.goldenguinea.com/towards-a-new-international-monetary-framework/

Aug 20

Schumpeter, Creative Destruction and the Regeneration of the Banking System

As a young man, Joseph Schumpeter said he had three ambitions in life – to become the finest horseman in Vienna, the greatest lover in Austria, and the most brilliant economist in the world.  In later years, he confessed to being disappointed that he had only realised two of his three goals. He did not …

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Permanent link to this article: http://www.goldenguinea.com/schumpeter-creative-destruction-and-the-regeneration-of-the-banking-system/