We're standing on the edge of another crisis in the next x years. We don't know what x is, but things are not good. The whole society could pile into deals that literally were too good to be true for any time. If you're counting on your electede tentatives to be watching out for your financial interests as an average taxpayer, think again. And i would stand it for letting charles finish the a.m.
Charles Calomiris of Columbia University and Stephen Haber of Stanford University, co-authors of Fragile by Design: The Political Origins of Banking Crises and Scarce Credit, talk with EconTalk host Russ Roberts about their book. The conversation focuses on how politics and economics interact to give some countries such as Canada a remarkably stable financial system while others such as the United States have a much less stable system. The two authors discuss the political forces that explain the persistence of seemingly bad financial regulation. The conversation includes a discussion of the financial crisis of 2008.