Latest Issue

Charles Calomiris: “There’s no way to get politics out of the banking system”

By Jonathan Derbyshire  

Charles Calomiris is the co-author, with Stephen H Haber, of a new book entitled “Fragile by Design: The Political Origins of Banking Crises and Scarce Credit”. It is an analysis of what Calomiris and Haber call the “systematic role of politics in the determination of banking systems’ performance”. Politics, in their view, matters when one is attempting to understand the causes of banking crises.

This is a book that wears its historicism on its sleeve—it contains accounts of systemic banking crises dating back to the 18th century which occurred…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect