midinomics, rhys michael cullen, the creation of a community financial sector

R M Cullen

elite athlete development

diabetes

economics

evolution

The financial sector is a rogue element in a modern capitalist economy. Its reason for being is to enrich its members.

Loosely speaking, the financial sector manages savings. Classically, savings are deposited with banks who lend them out for four purposes

to fund the immediate consumption of goods and services by non-savers (personal credit)
to fund the purchase of large assets, such as houses or cars, by retail customers
to fund the purchase of productive assets by business
to fund the purchase of non-productive assets by investors