International Deposit Insurance with Risk-Based Premia
Friedrich A. Hayek’s 1944 acclaimed Road to Serfdom (reproduced by the Institute for Economic Affairs online) supports social insurance for when markets work imperfectly, a long tradition in neoclassical economics now reflected in practice by the implicit or explicit social insurance linked to nearly all fiscal policy: “Nor is there any reason why the state … More International Deposit Insurance with Risk-Based Premia