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

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

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

The New Autarky? How U.S. and UK Domestic and Foreign Banking Proposals Threaten Global Growth

By Louise Bennetts and Arthur S. Long. Policy Analysis No. 743. November 21, 2013.

What Made the Financial Crisis Systemic?

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

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.

Cato Reviews & Journals

The Next Banking Crisis

Charles Calomiris and Stephen H. Haber. Regulation. Spring 2014.

Why the Euro Failed and How It Will Survive

Pedro Schwartz. Cato Journal. Fall 2013.

The Gold Standard, the Euro, and the Origins of the Greek Sovereign Debt Crisis

Harris Dellas and George S. Tavlas. Cato Journal. Fall 2013.

Events

Fragile by Design: The Political Origins of Banking Crises and Scarce Credit

Featuring Mark A. Calabria. September 8, 2014. Book Forum.

After Dodd-Frank: The Future of Financial Markets

Featuring John A. Allison, Mark A. Calabria and Louise Bennetts. July 16, 2014, July 17, 2014. Conference.

Money: How the Destruction of the Dollar Threatens the Global Economy — and What We Can Do about It

Featuring Steve Forbes, Steve H. Hanke and James A. Dorn. June 19, 2014. Book Forum.

Speeches

Prescription for Economic Recovery

By William Poole. October 19, 2011.