1 option
The End of Alchemy: A Review Essay / Roger E.A. Farmer.
- Format:
- Book
- Author/Creator:
- Farmer, Roger E.A.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w23156.
- NBER working paper series no. w23156
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- End of Alchemy
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2017.
- Summary:
- I review The End of Alchemy by Mervyn King, published by W.W. Norton and Company in 2016. I discuss King's proposed regulatory reform, the 'Pawn Broker for All Seasons' (PFAS) and I compare it to an alternative solution developed in my own work. I argue that unregulated trade in the financial markets will not, in general, lead to Pareto optimal allocations. As a consequence, solutions like the PFAS that correct problems with existing institutions are likely to be circumvented by the development of new ones.
- Notes:
- Print version record
- February 2017.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.