What Do Banks Do? What Should Banks Do?

摘要: Before we can reform the financial system, need to understand what banks do; or, better, should do. This paper will examine later work of Hyman Minsky at Levy Institute, on his project titled "Reconstituting United States' Financial Structure." led a number working papers and also draft book manuscript that was left uncompleted death in 1996. In this I focus Minsky’s manuscripts from 1992 1996 last major contribution (his Veblen-Commons Award–winning paper). Much devoted thoughts role do play economy. To put it as succinctly possible, always insisted proper system promote "capital development" By he did not simply mean finance investment physical capital. Rather, concerned with creating structure would be conducive economic development improve living standards, broadly defined. Central argument is understanding banking developed over career. Just changed (and it, capitalist economy), views evolved. conclude general recommendations for along Minskyan lines.