We know very little about complex financial systems and how systemic risk, as it’s called, is computed and how you would manage policies. And if you look back at the financial crisis, you can either say, as many economists do, “It all had to do with badly-designed rules,” which may be part of the story; it’s certainly part of the story. Or it may have to do with the interaction of those rules and human nature, like mortgage broker greed, optimism… And you see it not just in individuals who now have houses and foreclosure, but at the highest levels.
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What has redeemed the faith community throughout the centuries of history has been that there has always been a sector of the faith that has not sold out, that has recalled the genuine moral and ethical values of that faith and its tradition, and has renewed that, and therefore moved the agenda into the future, that is moral and ethical and just.
Historically, there have been all of these moments, moments of social turmoil where people have come together and they have questioned a lot of the common sense of their eras and they’ve torn it to bits. And the result has been kind of…truths, like new truths that become common sense later.