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The Property Rights, Freedom, and Prosperity Task Force explores the philosophical, historical, legal, and economic foundations of property rights through scholarship and collaborative research among an interdisciplinary group of scholars that includes economists and legal experts. Together, this team will explore property rights in a contemporary context. Members will examine how secure property rights help foster economic development, encourage natural resource stewardship, advance investment in intellectual and physical capital, encourage sound business practices, and promote liberty and individual responsibility.
In a new book by Hoover Institution senior fellow Stephen Haber and Charles Calomiris, Fragile by Design: The Political Origins of Banking Crises and Scarce Credit, the authors argue that bargains made between politicians, bankers, bank shareholders, depositors, debtors, and taxpayers—as much as economic conditions—lead to banking crises. In their book, they write “the politics we see operating everywhere else around us determines whether societies suffer repeated banking crises … or never suffer banking crises.”
Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation. Charles Calomiris and Stephen Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why some endure while others are undermined, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. For more information, visit the Fragile by Design website here.