Unfortunately, no. I think this post is just much too ambitious for a subject as poorly understood as finance, and the initial framing makes promises that just can’t be delivered on.
I imagine that any of these would be take a lot of work to do adequately, and you’d need all three (and possibly more) before a summary post like the linked one seems reasonable to have:
An enumeration of specific functions the finance industry serves, how they fit into the whole, how they work with other parts, and how this compares with the idealized financier in the beginning of the linked post.
A marginalist explanation of what proposed limits to finance would do, concretely and not just in financial terms.
Some attempt to estimate how much financial crises cost (foregone production, hardships like mass foreclosures, and efficiency loss from wealth transfer to the rich), relative to the production we’d forgo through substantial systemic risk reduction.
Unfortunately, no. I think this post is just much too ambitious for a subject as poorly understood as finance, and the initial framing makes promises that just can’t be delivered on.
I imagine that any of these would be take a lot of work to do adequately, and you’d need all three (and possibly more) before a summary post like the linked one seems reasonable to have:
An enumeration of specific functions the finance industry serves, how they fit into the whole, how they work with other parts, and how this compares with the idealized financier in the beginning of the linked post.
A marginalist explanation of what proposed limits to finance would do, concretely and not just in financial terms.
Some attempt to estimate how much financial crises cost (foregone production, hardships like mass foreclosures, and efficiency loss from wealth transfer to the rich), relative to the production we’d forgo through substantial systemic risk reduction.