Many economists and policy makers agree the US financial system has gotten safer since the 2008-10 financial crisis. But is it safe enough? John H. Cochrane, senior fellow of the Hoover Institution at Stanford University and distinguished senior fellow at Chicago Booth, says what’s made us safer is the obligation of banks to hold more capital—but they still don’t hold enough to make us immune from crisis. Cochrane suggests offering the most well-capitalized banks a regulatory reward—namely, less regulation—and keeping the regulatory pressure on those banks that prefer to remain highly leveraged. Making banks even safer should be a priority, Cochrane says, because the next crisis may well be more severe, and more difficult to resolve.
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Economist Federico Sturzenegger, Minister of Deregulation and State Transformation of the Argentine Republic, helps illuminate what impact the US’s new Department of Government Efficiency might have.
Capitalisn’t: The Argentinian DOGE
Chicago Booth’s Matthew J. Notowidigdo discusses what it would take for the US health system to produce better outcomes.
How Can We Fix US Healthcare?
Chicago Booth’s Sam Peltzman analyzed nearly 50 years of data to identify the factors most associated with happiness.
Infographic: Which Americans Are Happiest?
The prestigious award from the American Finance Association recognizes top academics whose research has made a lasting impact on the finance field.
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At the Kilts Center’s annual Case Competition, a student team leveraged LLMs to create innovative product solutions for Microsoft.
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The Booth dean and professor (1939–2024) was an expert in microeconomics, strategy, and industrial organization and served in the US government.
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