Admati on Financial Regulation
Anat Admati of Stanford University talks with EconTalk host Russ Roberts about ways to make the financial system more stable. In particular, Admati explores the implications of higher capital requirements. She argues that current policies subsidize leverage--high levels of debt relative to equity--and that current levels of leverage increase the vulnerability of the system to swings in asset prices. She then gives her response to criticisms of higher equity levels. The conversation concludes with a discussion of the role of academic economists and finance professors as advocates for various policies.
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The Tolkien Professor
Silmarillion Seminar 8: Subcreators Gone Wild
After a brief message to Stephen Colbert, we move on to the eighth session of the Silmarillion Seminar, discussing Chapter 7 of the Quenta Silmarillion, "Of the Silmarils and the Unrest of the Noldor."
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