The ideal savings 'bank' in this environment would deliberately be open only briefly and impose high withdrawal costs (draconian anti-consumer rules), because the friction itself is the value — it lets a saver honestly say 'the bank is closed, I can't get my money' to deflect a relative's claim.

normativepending

Speaker

Russ Roberts

Evidence Quote

it's a little strange that in this story the ideal bank would be open only for a minute or two and and once you you deposited the money you couldn't get it back for a long time

Source

Mike Munger on Microfinance, Savings, and Poverty 04/18/2011EconTalk
Created: 6/17/2026, 10:29:24 AM

My Notes

Loading notes...