Banking Systems and Crises from Deposit Insurance to Stablecoins with Charles Calomiris | Hoover Institution

What this episode covers

Jon Hartley and Charles Calomiris discuss banking crises, the Diamond-Dybvig model, deposit insurance, the history of bailouts and public subsidies for banking, the historical comparison of the US and Canada banking systems, quantitative easing and ample reserves banking, stablecoins, non-bank lenders, and Charlie’s magnum opus Fragile By Design. Recorded on February 27, 2026. ABOUT THE SERIES Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics. For more information about the podcast, or subscribe for the next episode, click here: https://capitalismandfreedom.substack.com/