Can We Rein In the Excesses of Financialization Without Crashing the Economy?

Or we can let the bubble implode under its own weight and have a plan ready to clean house when the dust settles.

Thanks to recency bias, we tend to think the world has always been more or less as it is today. Tectonic shifts beneath the veneer of everyday life escape us unless we make a concerted effort to peel back the veneer of normalcy.

For example, consider the rise of finance as the dominant force in our socio-economic / political status quo. Statistics give u…