Just because they’re “Nobel” prize winners doesn’t mean they’re wrong

Washington’s blog says:

Virtually all independent financial experts say the size of the big banks is hurting the economy

and fortunately George Washington been keeping (documented) count.  It’s a total of 30 (mostly individuals but including a few coherent small groups), of which at least three have received the “Nobel” prize.

So why does “the market” cause such large banks to exist? Perhaps because correlates of bank size include political influence and chief executive salary.

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