Charles Calomiris and Stephen Haber talk with EconTalk host Russ Roberts about their book, Fragile by Design: The Political Origins of Banking Crises and Scarce Credit. 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.

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