Stephen Matteo Miller is a Senior Research Fellow at the Mercatus Center at George Mason University. He joined me to discuss his work on the history of financial crises as well as the evolution of the U.S. banking system since the late 1800s. Steph stresses the importance of capital requirements (how much capital or equity a bank holds relative to its liabilities) in combating financial crises. Furthermore, he argues that higher and simpler capital requirements, rather than more regulation, are the keys to a more market-disciplined banking system.

One clap, two clap, three clap, forty?

By clapping more or less, you can signal to us which stories really stand out.