Chart: Bank Failures [from 1800]; Countries with a banking crisis (% weighted by GDP, 3-year moving average_ Chart shows from 1800 regular spikes of banking crisis except for the two decades starting in 1950

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1. Emeritus Prof Christopher May (chrismayla6@zirk.us)'s status on Tuesday, 28-Mar-2023 07:39:46 UTC Emeritus Prof Christopher May

   Two centuries of #bankfailures in a single chart... and the extraordinary period of stability between 1950 & 1970.

   Whatever #bankers may claim about the 'problem' of regulation & the hand of the state, as @RichardJMurphy pointed out this morning - this is the period where Kenynsianism shaped public policy & delivered financial stability...

   If you wanted an illustration of why #capitalism works best when it is regulated carefully, this would be it.