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A cursory review of the literature brings up other concerns about multiple/extended liability, including shareholder concentration, increased bank leverage, etc. But I would want to answer two questions first: why was it abandoned before, and how difficult would it be to implement and regulate in the current international financial structure.
Excellent exposition. There is more to the “rules” than the writer had space to cover. The “rules” include written and unwritten rules, traditions, customs, prejudices, barriers to market entry, history of that market and other material factors that anthropologists, sociologists and historians are needed to explain. No market is “rational “.
A cursory review of the literature brings up other concerns about multiple/extended liability, including shareholder concentration, increased bank leverage, etc. But I would want to answer two questions first: why was it abandoned before, and how difficult would it be to implement and regulate in the current international financial structure.
Excellent exposition. There is more to the “rules” than the writer had space to cover. The “rules” include written and unwritten rules, traditions, customs, prejudices, barriers to market entry, history of that market and other material factors that anthropologists, sociologists and historians are needed to explain. No market is “rational “.