During the crisis, not only did the relative weight of debt and risk capital change, but so did the composition of firms’ sources of debt, with a growth in bonds to the detriment of bank lending.
Diagram 4 Consumer Prices Year-ended percentage change %  %  9  9  6  6  3  3  0  Sep 65  Sep 66  Sep 67  Sep 68  Sep 69  Sep 70  Sep 71  Sep 72  0 Sep 73  The point of all this analysis is to answer the second proposition that was presented in the Introduction.