Crisis Management Insights
The conversation highlights the dangers of avoiding crises in the financial system, drawing a parallel to forest fires. Just as suppressing smaller fires leads to catastrophic wildfires, the attempt to eliminate all financial distress can result in overwhelming failures. Emphasizing the need for a system that can effectively cope with crises rather than preventing them altogether, the discussion calls for a more resilient approach to economic stability.In this clip
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EconTalk
Charles Calomiris and Stephen Haber on Fragile by Design
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