Future crisis prevention: Should the risk of a financial crisis be accepted to prevent other crises?

There will be other crises: climate, public health, social, economic, geopolitical, cybersecurity, etc. After the COVID crisis, governments want to improve crisis prevention. To this end, they are prepared to spend a lot of public money on health care , inequality and poverty reduction, support for companies, the energy transition, security, etc. At a time when public debt ratios are already high, this high level of public spending will force highly expansionary monetary policies to remain in place. But if real interest rates remain negative, asset prices will continue to rise, debt ratios will trend higher again and the risk of a financial crisis will become high. This raises the question: are governments and central banks prepared to accept a financial crisis to avoid other crises?