Other People's Money and How the Bankers Use It¶
D., B. L. (1914). Other People's Money and How the Bankers Use It.
Cited by¶
2 citations across 2 artifacts.
Each citation links to the sentence it supports in the citing article.
Primes¶
- Transparency
- Transparency is the governance principle, captured in Brandeis's (1914) aphorism that "sunlight is said to be the best of disinfectants," holding that (1) relevant processes, decisions, and information within a system are made accessible to stakeholders who have legitimate interest in them — not secret, not buried, not contingent on insider knowledge — enabling oversight, informed participation, and trust; (2) transparency has characteristic components: disclosure (information is published or made available), accessibility (stakeholders can actually find and understand the information), timeliness (information is available when it can still inform decisions), and integrity (the information is accurate and not misleading); partial transparency (disclosure without accessibility, or accuracy without timeliness) is common and often intentional as a way to appear transparent without substantively being so; (3) transparency is instrumental to several goods simultaneously — it supports accountability (visible decisions can be challenged), legitimacy (openness reduces suspicion), trust (demonstrated openness reduces the need for trust assumptions), market efficiency (information asymmetry is reduced), and democratic participation (informed citizens, investors, users); (4) transparency is bounded by legitimate counter-interests — privacy, security, competitive advantage, deliberative candor — which define the domains where transparency must yield; the question is always what transparency for what audience about what information, not transparency unconditional.
This sourceFrederick A. Stokes. Source of the canonical aphorism "sunlight is said to be the best of disinfectants; electric light the most efficient policeman," establishing publicity as the foundational remedy for financial-sector self-dealing and the rhetorical anchor of modern transparency thought.
- Transparency is the governance principle, captured in Brandeis's (1914) aphorism that "sunlight is said to be the best of disinfectants," holding that (1) relevant processes, decisions, and information within a system are made accessible to stakeholders who have legitimate interest in them — not secret, not buried, not contingent on insider knowledge — enabling oversight, informed participation, and trust; (2) transparency has characteristic components: disclosure (information is published or made available), accessibility (stakeholders can actually find and understand the information), timeliness (information is available when it can still inform decisions), and integrity (the information is accurate and not misleading); partial transparency (disclosure without accessibility, or accuracy without timeliness) is common and often intentional as a way to appear transparent without substantively being so; (3) transparency is instrumental to several goods simultaneously — it supports accountability (visible decisions can be challenged), legitimacy (openness reduces suspicion), trust (demonstrated openness reduces the need for trust assumptions), market efficiency (information asymmetry is reduced), and democratic participation (informed citizens, investors, users); (4) transparency is bounded by legitimate counter-interests — privacy, security, competitive advantage, deliberative candor — which define the domains where transparency must yield; the question is always what transparency for what audience about what information, not transparency unconditional.
Mechanisms¶
- Privileged Access Log
- The discipline that keeps it honest is to treat the log as an input — paired with a rule that forces off-record contact back onto it and an audit that actually acts on the asymmetries it reveals — and to measure balance, not just volume.
This sourceTreats disclosure as a necessary first step and a continuing remedial instrument, not as a self-executing endpoint.
- The discipline that keeps it honest is to treat the log as an input — paired with a rule that forces off-record contact back onto it and an audit that actually acts on the asymmetries it reveals — and to measure balance, not just volume.
Verification¶
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Does it back the claim? Not recorded. Neither this nor any other of the 2 citations of this work carries a recorded support check.
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