Book review: Market-based banking and the international financial crisis, edited by Iain Hardie and David Howarth

"Market-Based Banking and the International Financial Crisis." Iain Hardie and David Howarth (eds.). Oxford University Press. August 2013. --- Economics and political economy lack the analytical tools to explain the differing impact of the recent international financial crisis that erupted in 2007 on developed economies. The principal aim of this edited volume is to offer a ‘market-based banking’ framework which transcends the dominant dichotomous understanding of financial systems in terms of credit-based and capital-based. Market-Based Banking attempts to provide a framework that is more reflective of banking in modern financial systems; one that provides a more successful explanation of the differential impact of the recent financial crisis. Reviewed by Roger McCormick.