Money, Banking and Financial Markets
by Stephen Giovanni Cecchetti, Kermit L Schoenholtz
Category: Banks and banking

"The entire content of this book is based on five core principles. Knowledge of these principles is the basis for understanding what the financial system does, how it is organized, how it is linked to the real economy, and how it is changing. If you understand these five principles, you will understand the future: 1. Time has value. 2. Risk requires compensation. 3. Information is the basis for decisions. 4. Markets determine prices and allocate resources. 5. Stability improves welfare"--