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The network pageantry has been replaced by the network effect — a huge pipe directly to his supporters, no intermediation involved.
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People now buy their electricity, gas and water directly from utility firms without any intermediation by local government.
The Bitcoin experience accesses notions of stateless money, peer-to-peer exchange, and of course, no regulation or financial intermediation.
A large portion of the financial sector is in the business of extracting value from the flows of money within the economy with little or no benefit to the intermediation of the allocation of investment capital to socially beneficial uses.
The best solution for Brazil's economic crisis is a convertibility plan like Argentina's: a currency and financial intermediation system making no distinction between the dollar and local currency.
Independently of the information channel, no significant effects were found when labor-market intermediation is based on a restricted (short) set of information.
There is no clear relation between regulatory restriction, interference of the government on the process of intermediation and banking system's competitiveness and SMEs' access to finance.
Architecture beyond the merely functional ought to have no role, especially not in the modern global economy in which increasingly automated financial intermediation of all sorts appears to be approaching the ideals of pure competition and perfect efficiency.
This study finding disagrees with the findings of Scott and William (2001) that there is no clear relationship between regulatory restriction, interference of the government on the process of intermediation and banking system's competitiveness and SMEs' access to finance.
After all, any use of either monetary or prudential policies on their own under those circumstances might have led to contradictory and self-defeating impacts on those two objectives: simply hiking interest rates would attract more capital inflows; and restraining credit supply with no policy interest rate increase would lead to channeling demand for credit to other intermediation vehicles.
GLOBAL financial intermediation is broken.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com