Granted there are lots of twists and turns and nuances involved, but the basic sequence of events in each pair is clear:
1. People who can make money doing dangerous and risky things try to do so, leading to substantial societal loss and harm (affecting most strongly those who weren’t making the money).
2. Everyone wrings their hands and Stern Measures Are Taken to Ensure This Never Happens Again.
3. People who can make money doing dangerous and risky things convince Congress that the Stern Measures are overreaching, unnecessary, and, hey, what are the chances this could ever possibly happen again now that we are so much wiser? Also, here’s some money to help you get elected next time around.
4. Congress gets rid of the Stern Measures.
5. GOTO 1
Originally shared by +Katie H.:
https://om2317.wordpress.com/2013/06/12/lesson-of-the-great-depression/