Irish Liberty Forum

Learning from the Financial Crisis

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Reactions to the collapse of Bear Stearns, what was the fifth largest US investment bank, will vary according to perspective. Some will probably view it as a market failure, consistent with the unsustainability of the free market. Others will, to some extent or another, blame particular actions by some of the concerned parties. The idea that state interventionism was ultimately responsible will remain a minority view.

If you are finding the economic news fascinating, and if you are not yet familiar with the ideas contained in this book, I suggest that you might find value in downloading this very accessible introduction to monetary theory by a libertarian legend: What Has Government Done to Our Money ? by Murray N. Rothbard. After reading it, I think anyone would be hard-pressed to argue that the monetary system we are experiencing is grounded in free market principles.


Written by Graham

March 17, 2008 at 5:19 am

Posted in economics, USA

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  1. […] transcript of a hearing by the Joint Committee on European Affairs. There I found something I had flagged previously: the free market being blamed for the economic slowdown. Kieran Allen: I am in favour of […]

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