Loose money and light regulation were a toxic mixture. It exploded.
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The quote refers to the detrimental effects of combining easy monetary policy with minimal regulatory oversight in financial markets. This mixture can lead to economic instability, as it encourages reckless behavior among financial institutions, resulting in crises that can severely impact society. The author's perspective highlights the importance of balancing monetary policies and regulations to prevent such explosive situations.
Joseph E. Stiglitz, in his book "The Great Divide: Unequal Societies and...
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