The faith that moves Mammon
Only rarely does the glue that binds the financial system come unstuck
Much in modern economies is taken on trust. Even the most basic goods depend on complex links between suppliers strewn across the globe. The glue that binds the whole system together is trust—trust that suppliers will deliver the right goods on time; trust that the payments will duly pass down the supply chain. That raises a question: what makes people who might not even lend to their neighbours happy to lend their life savings to unknown borrowers whom ... Full Story »
Posted by Walter Cox
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