Economics


The Bank-Run Phenomenon

The Bank-Run Phenomenon

One of the most fascinating phenomena in financial crises is that of bank runs. Thatโ€™s when panicked depositors rush to their bank to withdraw their money because theyโ€™re convinced that the bank is going broke. Everyone tries to withdraw his money before that happens....
Destroy the Economy, Win a Nobel

Destroy the Economy, Win a Nobel

Former Federal Reserve Chairman Ben Bernanke is a 2022 recipient of the Nobel Prize in economics for his writings on how government should respond to bank failures. Honoring Bernanke for his advice on what government should do when banks fail is like giving a fire...