To come closer to the heart of the problem of financial crises, we need to focus on market participants' incentives under a capitalist economic system, Hirohide Yamaguchi, a deputy governor at the Bank of Japan, has said.

"Market participants pursue their own profits as their number one priority, and are not usually interested in how their actions influence the performance of the market as a whole and eventually the performance of the economy as a whole," Yamaguchi said. "Even if those actions