Banking

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

 

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