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Rethinking the Financial Network
In the present financial crisis the flight is of capital, not humans. Yet the scale and contagious consequences may be no less damaging.

 


Through history, there are many examples of human flight on an enormous scale to avoid the effects of pestilence and plague. From yellow fever and cholera in the 19th century to polio and influenza in the 20th. In these cases, human flight fed contagion and contagion fed human catastrophe.

 

 

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Rethinking the Financial Network
Speech by
Andrew G Haldane*
Executive Director, Financial Stability
Bank of England

 

 

 

 

Bank of England, April 2009-Andrew G Haldane

14.04.2009