What is wrong with today's banking system? The past few years have shown that risks in banking can impose significant costs on the economy. Many claim, however, that a safer banking system would require sacrificing lending and economic growth. The Bankers' New Clothes examines this claim and the...

The argument in a nutshell -- Recurring flaws --The origins of measuring and paying for performance -- Why metrics became so popular -- Principals, agents, and motivation -- Philosophical critiques -- Colleges and universities -- Schools -- Medicine -- Policing -- The military -- Business and...