In this article, we discuss the relationship of banks, or loans provided by them, and economic development. We decided to investigate this relationship as banks in today’s economies play a signiﬁcant role as a vital institution in the ﬁnancial markets, where there is a distribution of monetary funds from surplus entities to deﬁcit entities. A necessary precondition of a functioning economy, in its present mostly mixed form, is a functioning and stable banking system. Currently, uncovered money is to a great extent the money generated by private banks, mainly in the form of loans.
Julius Janáček, Dan Šťastný
The economic science has for centuriesanchored its endeavor to understand decisionmakingpatterns of people in explicit or implicitassumptions of utility maximization. And yet,for most of that time the utility remained anempty box, devoid of any content. The termutility was a scholarly short-hand for whateverpeople want to achieve and remained vague fora reason: in recognition of the subjective natureof what human preference it was designedto accommodate just about anything, and itwas after all considered none of economists’business to speculate about its precise content.