In hindsight, how would you have prevented the financial crisis?

Arnold Kling was asked:

With regard to the recent financial crisis and current economic recession – if you were given the power to go back in time and change only one thing in an effort to prevent the crisis and recession, what year would you choose, and what one thing would you change?

He answers here. You also might want to check out his new book with Nick Schulz called Poverty to Prosperity: intanigible Assets, Hidden Liabilities and The Lasting Triumph over Scarcity.  Much of it consists of interviews with highly noted economists.  I’ve only had the chance to read a few chapters so far but I’ll definitely look at it again when I have a little more time.

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