Thursday, February 20, 2014

Money Wisdom #253

"The solvency of any banking system is, in the last analysis, illusory, so that success depends entirely on confidence - which in the last resort is misplaced - on the part of the depositors."

T Parsons Sociological Theory and Modern Society (1967) p.335 quoted in 
Thomas Crump The Phenomenon of Money (1981) p.146

No comments:

Post a Comment