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MONEY CHAPTER 12 STD.12 ECONOMICS
Money, credit, and banking
The banking industry is the underlying foundation of all financial transactions in a modern economy, facilitating everything from the most simple retail purchases to residential and commercial financing, capital markets and foreign exchange. Here are five of the best available books to help you gain a better understanding of the banking industry and its central importance in supporting the world economy. The book chronicles how the Morgan family stealthily and steadily moved in on the Rothschild and Baring families, eventually largely surpassing them in creating the most powerful financial establishment in the world. The book provides intimate portraits of the individuals who founded the Morgan banking dynasty. McMillan carefully details what he sees as ultimately unsolvable problems confronting the current banking system, and then offers a plan for a new type of banking system that encompasses the forces of the digital revolution, new payment processing and monetary exchange systems, and other financial shifts such as the rise of peer-to-peer P2P lending.
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National Book Store, - Finance - pages It is a good book for gathering knowledge about Money, Credit and Banking and easy to understand the.
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About this Journal
Jonathan McMillan. Announcing the demise of the financial system as we know it has become popular in the aftermath of the Great Recession. In fact, the Financial Times has dedicated an entire series to the topic, aptly named Death of Banks , wherein author Izabella Kaminska chronicles the downfall of traditional banking. Since borrowers prefer loans with large notional amounts and long maturities but lenders prefer loans with small notional amounts and short maturities, matching the differing needs of lenders and borrowers is the essence of banking. As a welcome side effect, banks also multiply deposits several times on their balance sheets and thus create inside money.