A Proposition for the Redefinition of the Bank from a Historical Sociolegal Perspective

9 Pages Posted: 2 Apr 2020 Last revised: 1 Sep 2021

Date Written: February 27, 2020

Abstract

Throughout history, banking has been key to the development of fundamental institutions and structures of capitalism, while also having been instrumental in its recurrent crises. However, this significance isn't reflected in its definitions. In this brief note, I present a critical definition of banking institutions that takes into account their importance, as it approaches banking from a variety of perspectives. It conceives the bank as a mercantile-rentier that overlays social inefficiencies in monetary allocation through the transmission of internally-produced fungible rights in personam.

Keywords: Law and Economics; Social Systems Theory; Theory of Banking; Sociolegal studies; Fractional Reserve; Banking History; Banking; Political Economy and Law; Shadow banking ; Genealogy of capitalist institutions

JEL Classification: K40; E50; B15; N00; Z13; D72.

Suggested Citation

El Ftouh, Reda Mokhtar, A Proposition for the Redefinition of the Bank from a Historical Sociolegal Perspective (February 27, 2020). Available at SSRN: https://ssrn.com/abstract=3546177 or http://dx.doi.org/10.2139/ssrn.3546177

Reda Mokhtar El Ftouh (Contact Author)

Mohammed V University of Rabat ( email )

Avenue Al Oumam
Agdal
Rabat, Rabat 10500
Morocco

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