A lesson in history: What role competition plays in banking and why there are so many banks in America

There are 4100 banks in America. Why does America have so many banks? And does it have anything to do with the recent bank failures?
The answer to these questions has to do with how competition in banking has been conceptualized in America historically. Let's take a trip down America's history and see what stories Alexander Hamilton and Thomas Jefferson have to tell us about where we are today.

Rabab Ahsan | May 11, 2023

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