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Well-functioning financial systems are important in achieving sustained economic growth. They play a crucial role in channeling household savings into the corporate sector and allocating investment funds among firms. ↗
The more I understand the mind and the human experience, the more I begin to suspect there is no such thing as unhappiness; there is only ungratefulness. ↗
In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems. ↗
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