Lecture+11 - Lecture 11 Financial Markets Prof. Paczkowski...

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Unformatted text preview: Lecture 11 Financial Markets Prof. Paczkowski Lecture 11 Financial Markets Prof. Paczkowski Rutgers University Spring, 2010 Prof. Paczkowski (Rutgers University) Lecture 11 Financial Markets Spring, 2010 1 / 20 Lecture 11 Financial Markets Prof. Paczkowski Reading Assignments Part I Reading Assignments Prof. Paczkowski (Rutgers University) Lecture 11 Financial Markets Spring, 2010 2 / 20 Lecture 11 Financial Markets Prof. Paczkowski Reading Assignments Reading Assignments Prof. Paczkowski (Rutgers University) Lecture 11 Financial Markets Spring, 2010 3 / 20 Lecture 11 Financial Markets Prof. Paczkowski Introduction Role of Financial Markets Market Structure Thomas Edison Part II Introduction Prof. Paczkowski (Rutgers University) Lecture 11 Financial Markets Spring, 2010 4 / 20 Lecture 11 Financial Markets Prof. Paczkowski Introduction Role of Financial Markets Market Structure Thomas Edison Introduction One perspective on economic growth and finance is that loanable funds (i.e., funds raised through borrowing rather than through taxation or printing money) are needed to finance a Take-off into sustained growth Excessive taxation can stifle growth by disincenting the population Printing money leads to inflation/debasing the currency Loanable funds emphasizes private incentive: a Smithian concept Prof. Paczkowski (Rutgers University) Lecture 11 Financial Markets Spring, 2010 5 / 20 Lecture 11 Financial Markets Prof. Paczkowski Introduction Role of Financial Markets Market Structure Thomas Edison Role of Financial Markets There are two views from an economic growth perspective Sir J.R. Hicks Financial system played a critical role in igniting The Industrial Revolution in England by facilitating the mobilization of capital for immense works.immense works....
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Lecture+11 - Lecture 11 Financial Markets Prof. Paczkowski...

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