Terry Jones of Monty Python did an excellent documentary on this topic in 2015: "Boom Bust Boom" (sorry, but when you search for it in your streaming device, that's what'll get you there). I saw it on NetFlix where, alas, it no longer is. But according to my RokuSearch it's available on Tubi (for free) as well as on Amazon Prime (with subscription) plus a few other channels for rent.
Terry Jones goes through some classic bubbles in history, starting with the tulip bubble. Along the way we hear from some dead economists (via puppets).
Here's the basic story. Government/Market does something stupid which creates a bubble. Part of the recovery from that bust is to enact new laws to protect us from that really stupid stuff that causes that crash. Not even a decade later, they start getting rid of those protective laws because "we know better now" (HINT: no, we don't).
Going into the Great Depression after that spectacular Market Crash, the
Glass—Steagall legislation, of 1932 was supposed to protect us from the very bad bank practices that led to the 1929 Crash that led to the Great Depression. Thinking that "we know better by now", we finally got rid of Glass—Steagall around 1999, which some have blamed the 2008 crash on. So as part of that recovery effort, a number of laws were passed and enacted to keep
that from ever happening again. After only half a decade, those laws have all been scrapped since "we know better now."
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