Conversations with History - Barry Eichengreen

Prevention of speculation in housing by imposition of heavy taxes on land values (the only value that goes up as real estate is invested in speculatively) would have required excess Chinese and Fed money to be invested elsewhere. Perhaps it would have been forced to be invested more in the direction of the real economy. At least this would have prevented the debacle of boom and bust in the arena where we lay our head to rest at night a simple common necessity that never should be gambled with.

20:03 - "Coming out of WWII ... everything ... was heavily regulated ... gradually ... we began to deregulate our financial markets ... this goes back to the early 1970's" which coincidently is when the US hit Peak Oil production rates--not that there could possibly be a relationship between those events.

but the institution should not be dominated by the only superpower, which is the US, and its follower, which is the UK, because both two countries have two records of creating and deteriorating a world economic crisis. It is not the matter whether globalisation is right or wrong. What is wrong is globalising laissez-faire and correct is globalising legal systems that regulate markets and market players.

3) There is another point that I find misleading when you talk about globalisation. This time, I agree with you to establishing a regulator like the WFO that you advocate (55:38),

He might possibly have been referring to the fact that WWI was never fought to a satisfactory conclusion and WWII was merely a continuance of that war.

Sorry for being a fool in the comment below. This interview series is great, since it in everyday language explains how some of the greatest minds view the world and the challenges ahead.