The financing quilt: the Musgrave Ritual, Part 2
[Continued from yesterday's Part 1.]
Assisting my friend Musgrave with his financial structuring problem, I was demonstrating the impossibility of any one financier providing all the capital required. Except, I observed, in pre-capital-markets countries, where savings circles, credit unions, mutual building societies, and similar capital aggregators are designed to save up all the capital [...]
