Download This PaperThe Noneconomic Costs of Financial Crises
70 Vand. L. Rev. En Banc 261, 2017
5 Pages Posted: 1 Dec 2017 Last revised: 12 Jan 2018
Date Written: November 28, 2017
Abstract
Financial crises can wreak havoc on an economy, but they can also generate significant costs that are not directly captured by economic variables: psychic harms to those who lose their homes or jobs, and a deterioration in public faith in key societal institutions. Because of this, we should place a thumb on the scale in favor of panic prevention when weighing the costs of financial regulation.
Keywords: financial regulation
Suggested Citation: Suggested Citation
Crawford, John, The Noneconomic Costs of Financial Crises (November 28, 2017). 70 Vand. L. Rev. En Banc 261, 2017, UC Hastings Research Paper No. 261, Available at SSRN: https://ssrn.com/abstract=3079041
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