Financial crises come from bank runs. An innovative way to prevent bank runs is to use equity-financed banking. Equity-financed banks would replace debt with equity as their method of financing and back up all deposits with liquid assets like Treasury bonds. Since it would not hold any debt, bank runs would become a thing of the past.
The following is from C.J. Ciaramella, "New York Prosecutors Gave Themselves $3.2 Million in Bonuses With Asset Forfeiture Funds," Reason Blog, November 28, 2017: The Suffolk County District Attorney's Office in New York doled out $3.25 million in bonuses to prosecutors from its asset forfeiture fund since 2012, according to records obtained by Newsday through a Freedom of Information request.
No person in the media that engages in sexual misconduct, no person in the media that entertains proposals to engage in sexual misconduct, no person in the media that sits in a conference with a bunch of sexual miscreants and where the ways and means of sexual misconduct are discussed, and does not promptly tell his employer about it, will ever again work in the media.
Hoover Institution fellow Russ Roberts talks about our episode 174 on The Wealth of Nations, and explores with us the idea of emergent economic order. As preparation, we all listened to a June 2017 episode of EconTalk that featured Russ, Mike Munger, and Don Boudreaux, so you should too! For a graphic introduction to this idea, see wonderfulloaf.org.
As noted here a few days ago, Chancellor Angela Merkel is having trouble putting together a coalition government in Germany following a terrible showing in the last election. The German result was similar to the recent French election in one respect: it represents a repudiation of the main ruling parties.