Banks have transformed significantly since the era of the Medici, primarily to enhance the efficiency of transferring funds where they are available to where they are necessary. This evolution underscores the fundamental role of credit and debt in economic functionality. They are critical components that contribute to the growth and prosperity of nations, much like traditional industries such as mining and manufacturing, as well as modern innovations like mobile telecommunications.

In Niall Ferguson's "The Ascent of Money," he emphasizes that the banking system’s ability to facilitate financial transactions is a cornerstone of economic evolution. As societies progress, the mechanisms for managing credit and debt have become increasingly sophisticated, reflecting their importance in wealth creation and overall economic development.