Latest Issue
Special Reports
Latest Special Report

Making banks boring again

In the modern financial services industry, banks have become casinos attached to utilities. The aim of any regulatory overhaul should be a rigorous separation of the two, with protection only to be extended to retail customers

By John Kay   154

A vibrant and professional financial services industry is essential to a prosperous economy. Only market economies can provide citizens with the standards of living that the people of western Europe and north America have come to expect. A market economy requires a financial sector to direct investment to the most productive uses and to monitor the performance of large businesses. This finances the operations of governments and, by borrowing short and lending long, enables borrowers and lenders to operate on different timescales. A well-functioning financial sector serves the individual financial needs of its citizens, allowing them to save and to…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with our newsletter, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

More From Prospect