Various pundits and public figures have claimed that the recent financial crisis means ‘‘the end of libertarianism’’ or even more dramatically ‘‘the end of capitalism.’’ But the crisis can hardly be considered a failure of laissez-faire, deregulation, libertarianism, or capitalism, since it was caused by multiple misguided government interventions into the workings of the financial system. It was and is precisely a failure of interventionism.

Politicians like to ‘‘promise everybody everything’’—low interest rates, affordable mortgages, higher housing prices, lower gas prices, a chicken in every pot. That’s why it’s important to keep politics out of such matters.

More on Financial Crises and the Global Financial System

Commentary

The Cyprus ‘Bail-In’ Exposes ‘Too Big To Fail’ as All Too Timid

By Louise C. Bennetts. Forbes.com. April 18, 2013.

The Triumph Of Good Economics: ‘Austere’ Baltic States Outgrow Their European Neighbors

By Doug Bandow. Forbes. April 15, 2013.

Too Small to Fail

By Steve H. Hanke. The Daily Beast. April 15, 2013.

Cato Studies

What Made the Financial Crisis Systemic?

By Patric H. Hendershott and Kevin Villani. Policy Analysis No. 693. March 6, 2012.

Putting Politics above Markets: Historical Background to the Greek Debt Crisis

By Takis Michas. Working Paper No. 5. August 15, 2011.

Capital Inadequacies: The Dismal Failure of the Basel Regime of Bank Capital Regulation

By Kevin Dowd, Martin Hutchinson, Jimi M. Hinchliffe & Simon Ashby. Policy Analysis No. 681. July 29, 2011.

Articles

Towards Sound Monetary Order

Dalibor Rohac. Economic Affairs. Vol. 31. No. 3. October 2012.

Argentina’s Fall From Grace

Steve H. Hanke. Liberty. July 2011.

Why Argentina Did Not Have a Currency Board

Steve H. Hanke. Central Banking. Vol. 18. No. 3. February 2008.

Public Filings

Financial Literacy: Empowering Americans to Prevent the Next Financial Crisis

By Mark A. Calabria. Testimony. April 30, 2012.

An Old Perspective on Asset Price Bubbles Policy

By William Poole. Testimony. April 8, 2011.

GSE Reform: Immediate Steps to Protect Taxpayers and End the Bailout

By Mark A. Calabria. Testimony. February 9, 2011.

Reviews & Journals

Diminishing Quality of Fiscal Institutions in the United States and European Union

Thomas Grennes. Cato Journal. Winter 2013.

The Real Causes of the Financial Crisis

John A. Allison. Cato's Letter. Winter 2012.

Freedom in Crisis

David Boaz. Cato's Letter. Summer 2009.

Events

At the Brink: Will Obama Push Us Over the Edge?

Featuring John R. Lott, Jr. and David Boaz. April 19, 2013. Book Forum.

The Euro Crisis: Can Deeper Integration Save the European Union and the Common Currency?

Featuring Juan Carlos Hidalgo. February 8, 2013. Policy Forum.

The Financial Crisis and the Free-Market Cure: Why Pure Capitalism Is the World Economy’s Only Hope

Featuring John A. Allison and David Boaz. October 24, 2012. Book Forum.