The financial crisis of 2008 has prompted some economists to call for government regulators to expand their reachby trying to minimize financial disruptions and systemic risks that might harm the broader economy. Their arguments, however, ignore two fundamental challenges for prudent regulation: the knowledge problem and the incentive problem.
|Other Independent Review articles by Alexander William Salter|
|Winter 2016||Asteroid Mining 101: Wealth for the New Space Economy|
|Summer 2015||Constitutional Money: A Review of the Supreme Courts Monetary Decisions|