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Banks As Social Accountants: Credit and Crisis Through an Accounting Lens
Bezemer, Dirk J - Volkswirtschaftliche Fakultät, … - 2009
accountants (Stiglitz and Weiss 1988). It highlights the credit nature of money, and thus the fact that money is an accounting … construct. This motivates the viewing of financial booms and crises through an accounting lens. By accounting necessity, credit …
Persistent link: https://www.econbiz.de/10005055497
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Innocent frauds meet Goodhart’s Law in monetary policy
Bezemer, Dirk J; Gardiner, Geoffrey - Volkswirtschaftliche Fakultät, … - 2010
This paper discusses recent UK monetary policies as instances of Galbraith’s ‘innocent frauds’, including the idea that money is a thing rather than a relationship, the fallacy of composition that what is possible for one bank is possible for all banks, and the belief that the money supply...
Persistent link: https://www.econbiz.de/10008636534