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Emeritus Prof Christopher May

Two centuries of in a single chart... and the extraordinary period of stability between 1950 & 1970.

Whatever may claim about the 'problem' of regulation & the hand of the state, as @RichardJMurphy pointed out this morning - this is the period where Kenynsianism shaped public policy & delivered financial stability...

If you wanted an illustration of why works best when it is regulated carefully, this would be it.

Chart: Bank Failures [from 1800]; Countries with a banking crisis (% weighted by GDP, 3-year moving average_ Chart shows from 1800 regular spikes of banking crisis except for the two decades starting in 1950
Mar 27, 2023, 07:34 AM·Public·Web
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