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 Death of Money: The Coming Collapse of the International Monetary System

By Richard W. Rahn. Cayman Financial Review. August 8, 2014.

Fed Proposal to End Bailouts Falls Short

By Mark A. Calabria and Marcus Stanley. The Hill (Online). July 25, 2014.

The Fed’s Exit Strategy: A Delicate Balancing Act

By James A. Dorn. Caixin. May 30, 2014.

Cato Studies

The Role of Mortgage Finance in Financial (In)Stability

By Mark A. Calabria. Working Paper No. 23. September 12, 2014.

Math Gone Mad: Regulatory Risk Modeling by the Federal Reserve

By Kevin Dowd. Policy Analysis No. 754. September 3, 2014.

Run, Run, Run: Was Financial Crisis Panic over Institution Runs Justified?

By Vern McKinley. Policy Analysis No. 747. April 10, 2014.

Articles

More Credit, More Money: Poland and the Euro-zone

Steve H. Hanke. Central Europe Digest. November 5, 2013.

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.

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.

Events

The Forgotten Depression: 1921: The Crash That Cured Itself

Featuring Jim Powell, Lawrence H. White and George Selgin. November 18, 2014. Book Forum.

Financial Stability: Fraud, Confidence, and the Wealth of Nations

Featuring Mark A. Calabria. November 17, 2014. Book Forum.

Bootleggers and Baptists: How Economic Forces and Moral Persuasion Interact to Shape Regulatory Politics

Featuring John Samples. October 9, 2014. Book Forum.

Speeches

Prescription for Economic Recovery

By William Poole. October 19, 2011.