Tuesday, September 4, 2012

On Time Magazine

As UN economist Ugo Panizza, one of the authors of the study, explains:
“Our findings show that there can be “too much” finance. While [opponents of regulation like Alan] Greenspan argued that less credit may hurt our future standard of living, our results indicate that, in countries with very large financial sectors, regulatory policies that reduce the size of the financial sector may have a positive effect on economic growth.”

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