Social and Behavioral Sciences Commons^™

Bankers As Immoral? Some Parallels And Differences Between Aquinas’S Views On Usury And Marxian Views Of Banking And Credit, Thomas E. Lambert

Faculty Scholarship

Since ancient times the practices and ethics of bankers and banking in general have undergone a great deal of criticism. While lending is motivated by profit, and while households are not explicitly coerced into borrowing money, the justice of a system which exploits workers and at the same time encourages them to borrow money in order to maintain a certain standard of living can be viewed as sometimes unfair and perhaps immoral. The value of goods, according to St. Thomas Aquinas and Karl Marx, should mostly reflect the value of labor embodied in them, and for that reason, labor should …

Unwilling Gamblers And Loaded Dice: Considering Recession And Crisis As A Natural Effect Of Financial Capitalism, Darlene N. Moorman

The Downtown Review

Under financial capitalism, ordinary people are increasingly becoming 'unwilling gamblers' of a risky and unstable system. This paper explores the social and institutional change behind the neoliberal movement and considers how the politics and policies of neoliberalism have contributed to a certain environment of financial instability. Looking at the changing nature of the economy, the rapid expansion of the financial sector, and the persisting issue of moral hazard underlying risky and speculative behaviors among other items, reveals a financial system in which recessions and crises can be considered a natural, although not inevitable, effect.

New Kid On The Blockchain: The Rise Of Cryptocurrency In The Global Arena: Humanitarian Usage With Blockchain, Rhonda S. Binda

Open Educational Resources

In 2018, the world was shaken by the fast rise of Bitcoin and other cryptocurrencies that use a decentralized, blockchain technology for payment transfers outside of the traditional banking system. The potential impact this alternative form of banking could have in the medium and long term on the over 2 billion people globally unbanked is tremendous. Additionally, blockchain itself is being used for value transfer combined with bio and genetic tagging technologies in refugee camps for example, bringing to rise a new era where technology for development is disrupting education, healthcare and security programs globally.

Selecting An Alternative National Banking System Against Fractional Reserve Free Banking: The Greatest Modern Fraud?, Josiah J. Bardy

Senior Honors Theses

This paper serves as a compilation and analysis of different banking systems with an emphasis on fractional reserve free banking. Contemporary academic literature has debated fractional reserve banking with revisited scrutiny since the 2007–2009 financial crisis. The Austrian School, drawing conclusions from the Austrian business cycle theory, blames central banking for boom-bust economics. One proposed solution, fractional reserve free banking, eliminates the central bank’s control for a purer form of fractional reserve practice; however, this system may be inherently fraudulent and unethical. After completing an economic analysis of the western world’s banking system, this paper then explores an alternative solution.

Theories And Practices Of Islamic Finance And Exchange Laws: Poverty Of Interest, Ahmed E. Souaiaia

Ahmed E SOUAIAIA

Analysis Of The Impact Of Cash Out-Flow From The Banking Sector On The Sudanese Economy, Issam A.W. Mohamed Professor

Professor Issam A.W. Mohamed

Sudan as an example of LDCs the banking sector has been suffering from the problem of cash outflow over the last three decades, generating the following impacts: Loss of banking sector of its role of financial inter-mediation, cash scarcity in the banking sector, large government borrowings from unreal source of finance, thus, more inflation. The research attempts to specify the main determinants of cash outflow from the banking sector in Sudan (during the period 1972-2001). Hence, those revealing the major impacts of the cash outflow on the economic activity and rates of inflation. The research hypotheses were: (1) the Banks …

Impacts Of Islamic And Commercial Banks' Reserves Restrictions On Macroeconomic Parameters Of Sudan (2007-2009), Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The paper analyzes the impacts of Islamic and conventional Banks reserves' restrictions in Sudan. Comprehensively, those restrictions are necessary for health banks, performance and the viability of the macroeconomic performance in any country. The selected period of the analysis (2007-2009) is vital to study impacts of the Global Financial Crisis on the Sudanese economy. The paper introduces available data on banks institutions, macroeconomic policies and the central Bank of Sudan considering its part on controlling money supply and demand besides drawing policies for banks behaviors. It is conceivable from my conclusions here that there are conflicts between conventional and Islamic …

Cooperation Within Anarchy: A Case Study Of The Success Of Commercial Banking During The Lebanese Civil War, Mona Kalash

University Avenue Undergraduate Journal of Economics

This paper analyses the success of the Lebanese banking system during the Lebanese civil war, which lasted from 1975 until 1989. As the rest of the economy plunged into recession due to intense warfare and governmental collapse, the bankers and their clients continued to cooperate across battle lines in the loaning business. The argument of the paper is that the linkage of social and economic games and the importance of reputation in business created incentives for bankers and businessmen to cooperate in the Prisoner’s Dilemma game of lending and borrowing. I challenge the theoretical perspective that cooperation is not possible …