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Some Criticisms of Investment Credit Economics

In: The Role of Banks in Economic Development

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  • George T. Edwards

Abstract

Any observations which critically appraise the relationship between banks and industry in Britain are sure to find a ready and well-funded response. It is perhaps unfortunate that all the criticism (of this new investment credit economics) has been originated by groups or individuals in the pay of the clearing banks, but that is perhaps inevitable. All these criticisms could be seen as the predictably defensive reactions of a well-established and cautious clearing banks’ cartel, who naturally have a very rosy view of themselves. But on occasion these critics have made some quite substantial points, and even if I disagree with most of what they say, I do not presume infallibility on all issues, and if they are right in part of their criticism I shall not hesitate to say so. Equally, however, they frequently construe and interpret data in a manner and with a bias which consistently favours the clearing banks’ cosy view of things; and where I thoroughly disagree with their data and interpretations I shall also make that difference quite clear.

Suggested Citation

  • George T. Edwards, 1987. "Some Criticisms of Investment Credit Economics," Palgrave Macmillan Books, in: The Role of Banks in Economic Development, chapter 5, pages 118-173, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-08627-6_5
    DOI: 10.1007/978-1-349-08627-6_5
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