Banks are integral to whether an economy grows
Banks are important in our society because they help us save money in a safe way, and they also help us invest money in more educated ways than we would know how to do on our own. However, the relationship between the government and banks can limit our productivity.
The government can interfere with the price and production of goods, and they can also set the price of money by deciding the interest rates. This can be harmful to our economies because it incentivizes spending instead of saving, and it also encourages the misuse of credit and leverage.
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Peter Schiff wrote a book about the economic crashes that have happened throughout history. He talks about how inflation, deficit spending, and central banking can all be driving factors.
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The idea is part of this collection:
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