The sentiment that finance does not benefit society is not just the result of the 2007–10 financial crisis: throughout history (prohibitions against finance date as far back as the Old Testament), finance has been perceived as a rent-seeking activity.
Behavioral scientists and policymakers turn to nudges when implementing new policies, but some critics argue that such nudges are manipulative, coercing people into choices they aren’t even aware they’re making.
While 4 percent growth can last for years at the state level, it has never been anything approaching the norm in US economic history, even during the boom years that followed World War II.
Whether customers value quality over convenience is a constant question for many businesses. For movie-theater owners, the issue is whether customers prefer bigger, higher-quality screens or smaller screens with a greater variety of show times.
Financial technologies such as bitcoin, peer-to-peer lending, and crowdfunding are fledgling industries now, filled with companies that are little immediate threat to traditional commercial banking.
China’s financial system is fourth largest in the world, behind only those of the United States, the eurozone, and Japan. Thus what happens in China financially will have important consequences for the development of financial markets and economies in Asia and worldwide.