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Ban the Bank? Close it Down

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journal contribution
posted on 01.01.2008, 00:00 authored by Allan MeltzerAllan Meltzer

Successful official financial institutions, whether national or international, supply what social scientists call public goods: outcomes that benefit many specifically but everyone generally, despite that fact that the production of such goods often requires some to pay disproportionately to sustain them. Thus, a decision to supply public goods can be in the U.S. interest, but has an altruistic twist: Providers pay but still benefit, even though recipients benefit more.

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01/01/2008

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