Of Banks and Crises

Cristina Peicuti and Jacques Beyssade

in World Scientific Books from World Scientific Publishing Co. Pte. Ltd.

Abstract: This problem is easily solved by cooperation. An isolated laborer or artisan, no matter how honest or industrious he may be, cannot furnish sufficient guarantee for a loan. Sickness, loss of work, and death, may at any time overtake him and make it impossible, despite his best intentions, to pay back what he has borrowed. But if laborers or artisans to the number of ten, a hundred, or a thousand, are grouped in an organization, and held together, if need be, by the ties of collective responsibility, the security they have to offer will be considerably greater, and they will find it much easier to obtain credit without falling into the hands of usurers. The dues which are paid to such an organization, moreover, will ultimately build up to a large amount of capital which the organization can lend to its members."

Keywords: Great Depression Greet Recession; Covid-19 Crisis; Health Emergency Crisis; Health Care System Crisis; Pandemics; Public Health Policy; France's Yellow Vest Movement; Brexit; Trump; War in Ukraine; Climate Disruption; Bank; Mutual Bank; Cooperative Bank; Banker; Cycle; Recovery; Europe; European Union; France; Fed; ECB; Building Renovation; The Origin of Crisis; Economic Crisis; Financial Crisis; Money; Finance; Inflation; 2008 Crisis; Central Bank; Subprime Mortgage; Green Transition; Green Revolution; Commercial Bank; Credit; Loan; Real Estate; Mortgage; Debt; Sovereign Debt; Securitization; Oil (search for similar items in EconPapers)
JEL-codes: E5 G2 G20 G21 G24 G3 G30 G34 (search for similar items in EconPapers)
Date: 2024
ISBN: 9781800615618
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