# kaal:claim:2273857-040

**Claim.** Future financial crises may be inevitable, because globalization, financial innovation, ethical challenges, suboptimal institutional designs, and the bounded rationality of decision makers create conditions that produce crises.

**Type.** predictive  **Support.** argued

**Source quote.**

> Future financial crises may be inevitable. Factors such as globalization, financial innovation, ethical challenges, suboptimal institutional designs, and the bounded rationality of decision makers may create conditions that result in future crises.

**From.** Wulf A. Kaal, *Dynamic Regulation of the Financial Services Industry* (2013), III. Dynamic Regulation of the Financial Services Industry, page 21

**Cite as.** Wulf A. Kaal, Dynamic Regulation of the Financial Services Industry (2013). SSRN: https://ssrn.com/abstract=2273857

**Verify.** sha256 of source PDF `e7cb3dea40593135acc99a9b00690138fe01020514ebf388f5140e1b0e59e82a` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202013%20-%20Dynamic%20Regulation%20of%20the%20Financial%20Services%20Industry.pdf

**Topics.** risk-and-incentives, innovation

**Keywords.** financial-crises, globalization, bounded-rationality, financial-innovation

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/kaal-2013-acomparativeperspectiveo-030

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.