Banks Quote by Michael Hudson
“That's the problem with the financial sector. Banks and the financial sector live in the short run, not the long run. In principle the government is supposed to make regulations that help the economy over time. But once it's taken over by the financial sector, the government lives in the short run too.”
About This Quote
Source Book: “The Bubble and Beyond” (2005)
Financial sector focuses on short‑term gains, causing government to also prioritize immediate outcomes over long‑term health.
In simple terms: Short‑term focus harms long‑term stability.
Key Takeaway
Promote sustainable policies.
Themes
economics
policy
short‑termism
regulation
systemic risk
Mood
analytical
critical
Type
economic
philosophical
When to use this quote
- budget planning
- regulatory reform
- investment strategy
- long‑term planning
Key Concepts
macroeconomics
public policy
Questions to Reflect On
- How can governments resist short‑term pressures?
- What incentives encourage long‑term financial stability?
A Different Perspective
May oversimplify complex dynamics.
