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

Cato Studies

Political Borders and Bank Lending in Post-Crisis America

By Matthieu Chavaz and Andrew K. Rose. Research Briefs in Economic Policy No. 67. January 11, 2017.

The Repeal of the Glass-Steagall Act: Myth and Reality

By Oonagh McDonald. Policy Analysis No. 804. November 16, 2016.

Does the Geographic Expansion of Banks Reduce Risk?

By Martin Goetz, Luc Laeven, and Ross Levine. Research Briefs in Economic Policy No. 59. August 31, 2016.

Articles

Is South Suden Hyperinflating?

Steve H. Hanke. Studies in Applied Economics. No. 75. February 2017.

Venezuela Enters the Record Book: The 57th Entry in the Hanke-Krus World Hyperinflation Table

Steve H. Hanke and Charles Bushnell. Studies in Applied Economics. No. 69. December 2016.

Remembrances of a Currency Reformer: Some Notes and Sketches of the Field

Steve H. Hanke. Studies in Applied Economics. No. 55. June 202016.

Public Filings

Venezuela’s Tragic Meltdown

By Steve H. Hanke. Testimony. March 28, 2017.

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.

Cato Reviews & Journals

Is There Value in Revisiting the Lehman Collapse?

Vern McKinley. Regulation. Spring 2017.

The Japanese Experience with QE and QQE

John Greenwood. Cato Journal. Winter 2017.

Central Banks and Financial Turmoil

Policy Report. January/February 2017.

Events

Financial Crisis and Reform: Have We Done Enough to Fix the Government-Sponsored Enterprises?

Featuring John A. Allison, Susan Wharton Gates, and Ike Brannon. June 15, 2017. Policy Forum.

34th Annual Monetary Conference

Featuring James A. Dorn, James Grant, John A. Allison, Gerald P. O'Driscoll Jr., Kevin Dowd, Thomas Hoenig, Athanasios Orphanides, H. Robert Heller, Daniel L. Thornton, Tyler Goodspeed, George Selgin, Jerry L. Jordan, Steve H. Hanke, Walker F. Todd, & Phil Gramm. November 17, 2016. Conference.

Iceland’s Retreat from Financial Markets

Featuring Ike Brannon and Mark A. Calabria. November 7, 2016. Policy Forum.

Speeches

The Imperative for Financial Reform in Brazil

By Mark A. Calabria. August 10, 2016.

Sound Money, Freedom, and Prosperity

By James A. Dorn. April 25, 2015.

Prescription for Economic Recovery

By William Poole. October 19, 2011.