By the end of this chapter, students should be able to:
- Explain why bankers and other financiers innovate.
- Explain how widespread unit banking in the United States affected financial innovation.
- Explain how the Great Inflation of the 1970s affected banks and banking.
- Define loophole mining and lobbying and explain their importance.
- Describe how technology changed the banking industry after World War II.
- Define traditional banking and describe the causes of its demise.
- Define industry consolidation and explain how it is measured.
- Define financial conglomeration and explain its importance.
- Define industry concentration and explain how it is measured.