A good set of brakes is a very comforting thing. A gentle tap of the foot should produce a quiet and gentle deceleration, as brake pads press up against disc rotors, in a smooth but firm action. When I drive these days, I take this technology for granted.

However, the vehicles I drove as a young man offered far less assurance. There were times when applying the brakes unleashed a cacophony of shrieking, squealing and grinding noises as worn-out pads battled with rusty rotors. The braking action would be either be frighteningly nonexistent or of a sudden, whip-lash intensity. Of course, in those vehicles, the acceleration wasn’t great either. However, any temptation I might have had to drive more quickly was quickly squashed by doubts about my ability to slow the car back down again when I needed to.

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The Economic Impact of Banking Turmoil