The Welfare Cost of the U.K. Clearing Bank's Cartel.

The article discusses how welfare cost effects the banking structure in Great Britain. It is the aim of the article to demonstrate that Great Britain's banking structure is not socially optimal. The article also attempts to quantify the resulting social loss created by the banking structure. An analysis of the welfare cost is presents, as well as an attempt to measure it. The article cites a 1966 report from Great Britain's Prices and Income Board, which recommended that certain restrictive practices in banking be abolished and a competitive banking system be established.