Failures in Economics
Peter discusses the failures in economics that led to the financial crisis, including the lack of understanding and regulation of risky financial instruments. He also highlights the complexity of the crisis and the ongoing efforts to fully comprehend its causes.In this clip
From this podcast
Data Skeptic
Economic Modeling and Prediction, Charitable Giving, and a Follow Up with Peter Backus
Related Questions
Is the financial system flawed according to the episode Economic Modeling and Prediction, Charitable Giving, and a Follow Up with Peter Backus and the clip Failures in Economics?
What role did regulation play in the financial crisis of 2008 as discussed in the episode Arnold Kling on Credit Default Swaps, Counterparty Risk, and the Political Economy of Financial Regulation and the clip Greenspan's Worldview, as well as in the episode Russ Roberts on the Crisis and the clip The Collapse's Underlying Causes?
What caused the 2008 financial crisis as discussed in the episode Jeffrey Sachs on Charter Cities and How to Reform Graduate Economics Education | Convos with Tyler and the clip Misdiagnosis and Prescription?