> Richard said
>
> > Linkers --
> >
> > Now that we've got "Information Wants to be Free" sorted out -- can
> > anybody tell
> > me the first source for that aboninable term "disintermediation"?
> >
> > Richard Chirgwin
> >
> I cannot give you the source, but it comes from the finance industry and
> was around at least 12 years ago, along with other wonderful terms such
> as "banc-assurance"
I dusted off my decaying copy of "Australian Financial System: Interim
Report of the Committee of Inquiry", May 1980, AGPS, and found the
following reference to "disintermediation" (p.11):
"... to the extent that the regulatory environment constrains the
operations of financial intermediaries it is likely to encourage the
diversion of funds flows into internal financing or direct financing
(commonly called disintermediation)."
I recall that "disintermediation" was a commonly used term in The Treasury
during the late 1970s.
Ian Johnston