Andy Haldane: Preparing For The Next Financial Crisis

The Institute for New Economic Thinking (INET) has the interview Andy Haldane: Preparing For The Next Financial Crisis.

This interview is about how the international financial system needs to be changed to prepare for the next financial crisis. The interview does not touch on how an individual person should prepare.

I find this kind of interview to be valuable to me because it introduces me to new ideas and new thinking about the crisis and how to resolve it. Part of that introduction helps me understand the limitations of what I knew before in trying to prepare for the next crisis. One example of this is the discussion of why the old Glass-Steagall legislation, which helped get us out of the depression, cannot just be reinstated to prepare for the next crisis. The idea of such legislation to prepare for the next crisis must comprehend the irreversible changes to circumstances that has occurred since the Glass-Steagall era.

I make no claim that this interview makes me an expert in any of the areas discussed. That would be far too much to expect from an introduction to new ideas. It is, however, a catalyst to start thinking about things that I had not thought about before and may not even have had a prior inkling about. This is a big enough pay-off for listening to these types of interviews.

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