Capitalisn't18 Jan 2024

The Capitalisn't of Banking, with Anat Admati

It's been nearly 16 years since the federal government bailed out Wall Street to the tune of $700 billion in response to the financial crisis that precipitated the Great Recession. The idea that the public must guarantee critical financial institutions that are “too big to fail” was controversial then, but does it still remain an issue? Stanford finance professor Anat Admati, whom the New York Times profiled in an article titled "When She Talks, Banks Shudder," argues it’s become worse.

Admati joins Bethany and Luigi to discuss the updated edition of her and Martin Hellwig’s book, The Bankers' New Clothes: What’s Wrong with Banking and What to Do About It. Dissecting new financial developments, including the failure of Silicon Valley Bank, the crypto industry, and shadow banking, Admati lays bare how the current financial system is rigged for the benefit of the few. She also prescribes how we can build and regulate a fairer and more accountable financial system and, thus, a more stable and equitable capitalist economy.

Show Notes:

Read the 2024 preface of The Bankers' New Clothes on ProMarket.
Revisit our 2019 conversation with Anat and Chicago Booth Professor Guy Rolnik, exploring the reasons why market and policy may fail in finance and technology and what we must do to address such failures.
Read Anat's contributions to our e-books on George Stigler and Milton Friedman.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Denne episoden er hentet fra en åpen RSS-feed og er ikke publisert av Podme. Den kan derfor inneholde annonser.

Episoder(244)

Was Free Trade Ever Really Free? - ft. Fmr. Biden Trade Rep. Katherine Tai

Free trade was never actually free? That's the case Katherine Tai, Joe Biden's former U.S. Trade Representative, brings Bethany McLean and Luigi Zingales this week. For decades, the economic consensu...

18 Jun 51min

Why Corporations Always Win At The Supreme Court - ft. Adam Winkler

Corporations are people in the eyes of the law. But how did that happen, and why does it hand them rights you don't have? UCLA law professor Adam Winkler, author of "We the Corporations", traces a 20...

4 Jun 46min

You Can't Buy Trust - ft. Wikipedia Co-Founder Jimmy Wales

How does a free, decentralized, volunteer-run encyclopedia produce something more trusted than nearly any for-profit institution? Luigi Zingales and Bethany McLean sit down with Wikipedia co-founder J...

28 Mai 43min

Is Healthcare Making Capitalism Sick? - ft. Zack Cooper

Are stagnant wages the hidden price tag of a broken healthcare system? On this week's Capitalisn't, Yale health economist Zack Cooper tells Bethany McLean and Luigi Zingales that the U.S. healthcare m...

21 Mai 1h

How “Muskism” Is Changing American Capitalism - ft. Quinn Slobodian

For the better part of the 20th century, the American economy relied on the steady social peace of "Fordism"—an era of mass production and consumption that helped reconcile capitalism with democracy. ...

7 Mai 55min

Is Capitalism Delivering For The Majority? - ft. Steve Kaplan

The US economy looks great on paper: high GDP, low unemployment, and booming markets. So why does it feel like the system is broken for so many people? To unpack the disconnect between macroeconomic d...

23 Apr 1h 5min

Is The College Promise Broken? - ft. Noam Scheiber

For decades, Americans were promised that a college degree guaranteed a secure spot in the middle class. But instead of entering corporate management, many graduates are finding themselves trapped in ...

16 Apr 41min

The Real Cause Of Wage Stagnation - ft. Arin Dube

Economic models have treated the labor market like a perfectly competitive system where wages naturally align with worker value. Arin Dube, economics professor at the University of Massachusetts Amher...

2 Apr 47min