Maturity Mismatching and “Market Failure”
The present article is a continuation of the debate two sets of authors (Bagus and Howden vs. Barnett and Block) have been engaging in regarding one type of maturity mismatching: borrowing short and lending long (BSLL). All four authors had agreed that this practice can set up the Austrian Business...
| VerfasserInnen: | ; |
|---|---|
| Medienart: | Elektronisch Aufsatz |
| Sprache: | Englisch |
| Verfügbarkeit prüfen: | HBZ Gateway |
| Journals Online & Print: | Lade...
|
| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Veröffentlicht: |
2017
|
| In: |
Journal of business ethics
Jahr: 2017, Band: 142, Heft: 2, Seiten: 313-323 |
| weitere Schlagwörter: | B
Fractional reserve banking
B Deposit B ABC B P16 B Borrow B E59 B Banking ethics B Maturity mismatching B Lend B E2 |
| Online-Zugang: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
| Zusammenfassung: | The present article is a continuation of the debate two sets of authors (Bagus and Howden vs. Barnett and Block) have been engaging in regarding one type of maturity mismatching: borrowing short and lending long (BSLL). All four authors had agreed that this practice can set up the Austrian Business Cycle; the present author denies that BSLL would be a legitimate commercial interaction in the free society; Bagus and Howden continue to maintain that it would be licit. Our main criticism of Bagus and Howden is a reductio ad absurdum: that this opens them up to the charge of embracing the doctrine of market failure; this is something highly problematic for the two of them, since all four contributors to this debate are well-known supporters of laissez faire capitalism. |
|---|---|
| ISSN: | 1573-0697 |
| Enthält: | Enthalten in: Journal of business ethics
|
| Persistent identifiers: | DOI: 10.1007/s10551-015-2706-1 |
