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Essay / Research Paper Abstract
This 15-page paper attempts to explain the statement that the banker is not a middleman, but rather, someone who authorizes people, in the name of society, to innovate (Schumpeter). The paper supports this assertion by providing research that discusses the role of banking and bankers. Bibliography lists 18 sources.
Page Count:
15 pages (~225 words per page)
File: D0_MTbansoc.rtf
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Unformatted sample text from the term paper:
Others might consider that a bank is actually a place where a person store assets he/she can write against (as in via checks). In short, the bank, to most of
these people, acts as the middleman, the holding place where money is stored until the client needs it. The feeling here is that it beats keeping money under the bed
in an old sock. While banks did at one point become the middleman in terms of acting as a buffer between someone
who deposited assets in the bank (the lender) and someone taking assets out (the borrower), this role is changing today. According
to Schumpeter, todays banker is not necessarily a middleman. "Rather, todays banker authorizes people, in the name of society as it were, to innovate," he writes.
The question becomes then - how true is this particular statement? As with anything, its not 100 percent true, but Schumpeter does have a point in
that banks are moving away from simply being a conduit into a more active role of allocating resources to the person or people who can best use them.
In this paper, well examine the role of the banker (all types of bankers as well, including investment bankers). Once weve defined some roles
of bankers as we perceive them today (through an extensive literature review), well discuss bankers and society, and determine if Schumpeters theories are correct. Literature Review
While the literature available doesnt specifically support the assertion that bankers actually encourage innovation, there is plenty of information that describes the role of bankers and
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