Andrew Sheng: The Challenge of Large, Complex Financial Institutions (4/7)

The speaker discusses the challenges of regulating large financial institutions that exceed national economies, emphasizing systemic issues and the need for a historical perspective. They highlight the role of financial engineering in creating asset bubbles and the political economy's capture problem. The discussion covers the impact of global financial markets on inequality and the need for political solutions, including taxation and regulation, to address excess consumption and leverage.

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