How many people don’t have a bank account? And just how difficult has it become to live without one? These questions are becoming increasingly important as more businesses refuse to take cash in cities across the U.S. People without bank accounts are shut out from stores and restaurants that refuse to accept cash. As it […]
the pros and cons of borrowing abroad versus at home
A government which decides to borrow – either because it has programmed a budget deficit or needs to refinance maturing debts – faces two, non-mutually exclusive possibilities: borrow domestically in the local currency or borrow externally in a foreign currency. Developed countries borrow predominantly at home and in their currencies. This is because they have […]