Disputing The Public-Private Dichotomy

Taking a step back from the daily news cycle, Edward Hadas wants to know why people see corporations and government as purely antagonistic actors, with one interfering in the others business.

“The banking system is an excellent example of an economic organisation that defies a simple state-private division,” writes Hadas in a recent Reuters editorial. “Banks cannot be understood in isolation from – or in opposition to – central banks, regulators, elected politicians and customers on both sides of their balance sheets. All these institutions are better considered diverse members of a single financial community.”

Banks are repositories of financial trust: Hadas

He argues that banks, because they...