manufacture of doubt: on social costs and the evolutionary theory of the firm -- 5 The discourse on social costs: Kapp … distribution of the costs of the crisis: the case of Europe -- 7 The financial crisis viewed through the theory of social costs …

allows banks in different regions to smooth local liquidity shocks by borrowing and lending on a world interbank market. We … second-best world, financial integration can increase the welfare benefits of liquidity requirements …