29 Dec 2024
The Missing Wealth of Nations - Gabriel Zucman (2013) - The Magnitude of the Hidden Offshore Wealth
Text commentary - 4 pages - Finance
Gabriel Zucman's The Missing Wealth of Nations is built around the solution to the following empirical puzzle: official statistics show that, at the global level, national liabilities exceed assets. In theory, it should not be possible, as a liability recorded in one place must be equalled by...
29 Dec 2024
Limited liability and its moral hazard implications: the systemic inscription of instability in contemporary capitalism - Marie Laure Djelic and Joel Bothello (2013) - The systemic instability of contemporary capitalism
Text commentary - 4 pages - Finance
The moral hazard problem inherent to the financial safety net provided by the government protection of depositors has been identified as one of the causes of the 2008 financial crisis. Banks endangered financial stability by promoting lending to risky actors and proposed speculative interest...
