No credit card required
Crises – not all bad
We must have missed something
The never-ending crisis
2 Common features of financial crises, and why we don’t see them coming
The broad background
Financial deregulation: doors to opportunity and distress
The magic trick of money
Confusion at the heart of money
The special privileges of banks
Litany of attempts to solve a perennial problem
Asset prices and credit
What were we thinking?
Confused investment and channel capacity
Keep it down!
The basis of market economics: an ability to agree terms
From auction to liquid marketplace
Highly liquid markets create their own money
Technology and the emergence of new value
Logistics and statistics: twins from the same ...