What can history can tell us about the relationship between the banking system, financial crises, the global economy … ever before as measured by importance of credit in the economy. I term this long-run evolution "The Great Leveraging" and …

What can history can tell us about the relationship between the banking system, financial crises, the global economy … ever before as measured by importance of credit in the economy. I term this long-run evolution “The Great Leveraging” and …