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The Political Economy of Bank Capital
The Political Economy of Bank Capital
It is helpful at this point to consider the big picture, the underlying political economy of bank capital. In a laissez faire world with no central bank and no financial regulation, banks would sink or swim with no expectation of being bailed out by the state or its agencies if
Kaldor-Pasinetti Cambridge Equation
Kaldor-Pasinetti Cambridge Equation
The Kaldor-Pasinetti equation has a much deeper meaning than is commonly believed. It describes the fair distribution of total income between capitalists and workers.
Market Efficiency
Market Efficiency
The idea of market efficiency is used to describe a market in which relevant information is rapidly incorporated into the asset prices so that investors cannot expect to earn abnormal profits from their investment strategies.
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