The Nobel Economics Prize Rewards Bank Run Breakthroughs
Ones and Tooze
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Is There a Better Way to Regulate the Financial System?
All three of the winners of this year's award are describing a financial system that in various ways seems pretty fragile. So where does the faith come from that policymakers can get this all under control, or whether it's even worth the effort exactly? I mean, instead of Jerry rigging interventions to keep the financial system up right and, you know, to allow it to keep growing. Why not intervene to make it smaller and more manageable.
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