專欄臥底經濟學家

More equity, less risk

How can we make banking safe? A head of steam has been building behind the idea of restructuring banks so that their retail arms are cushioned from riskier activities, and can be plucked neatly from the clammy grasp of any future floundering bank. That is sensible – if easier said than done.

But why leave it there? The simplest way to reduce the risk of a future banking crisis is to force banks to hold more equity.

More equity makes banks safer, other things being equal, because the shareholders who provide the equity have no claim to being paid any particular sum of money. They simply get whatever is left after the bank takes its profits and its losses. That flexibility is what provides room for mistakes – essential in any complex system.

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臥底經濟學家

蒂姆•哈福德(Tim Harford)是英國《金融時報》的經濟學專欄作家,他撰寫兩個欄目:《親愛的經濟學家》和 《臥底經濟學家》。他寫過一本暢銷書也叫做《臥底經濟學家》,這本書已經被翻譯爲16種語言,他現在正在寫這本書的續集。哈福德也是BBC的一檔節目《相信我,我是經濟學家》(Trust Me, I’m an Economist)的主持人。他同妻子及兩個孩子一起住在倫敦。

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