The Ethical Economy of the Credit Market
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Banks are suppliers of payment-processing and lending services, and operate in the market for these services, where they as suppliers meet the individuals as well as firms which are the demanders and consumers of credit. Banking should be described in terms of the market for credit and payment-processing services, and not in terms of a quasi-state, official “credit-granting” function. Once upon a time, the banking sector and the supply of loans were referred to in terms of quasi-state administration and the granting of loans to applicants. During the recent decades of credit expansion and easy money, credit – especially consumer credit and lending for share purchases – has come to be seen as a type of consumer good that requires no deeper ethical norm-setting than any other consumer good.
KeywordsCapital Market Initial Public Offering Credit Institution Debt Relief German Bank
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