The Bank Restriction Period and Thornton Hume was skeptical of the role of banks and paper credit. 10 Hume's friend Adam Smith pointed out the benefits of banks (Laidler 1981). However, an analysis of paper credit had to wait until the next generation, and this was the accomplishment of Thornton.
1/3  BIS central bankers' speeches  Current tendencies in the labour market – such as the emergence of the gig economy and the absence of stronger labour unions – are leading to a diminishing power of European labour. This in turn makes it increasingly difficult to build wage pressures that could raise inflation.