The economic crisis between liberalization and government intervention
AbstractAbstract: The aim of this article is to provide a brief analysis of the current financial crisis, event that represents a major economic challenge and which reinforces the eternal dispute between the two economic thoughts: economic liberalization and government intervention. The analysis focuses on clarifying how these two concepts are represented, and the ways in which they have affected (or not) the recent events. Although the main variable in the crisis equation was supposed to be liberalization, this article finds out that it is the inadequate regulation that played an important role. In order to prevent such events, it is vital to properly understand the causes of the crisis and to identify the valuable lessons that can be learned.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 44089.
Date of creation: 30 Jan 2013
Date of revision:
financial crisis; economic liberalization; government intervention; regulation;
Find related papers by JEL classification:
- K20 - Law and Economics - - Regulation and Business Law - - - General
- B00 - Schools of Economic Thought and Methodology - - General - - - History of Economic Thought, Methodology, and Heterodox Approaches
- G01 - Financial Economics - - General - - - Financial Crises
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-02-03 (All new papers)
- NEP-HPE-2013-02-03 (History & Philosophy of Economics)
- NEP-LAW-2013-02-03 (Law & Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "This Time Is Different: Eight Centuries of Financial Folly," Economics Books, Princeton University Press, edition 1, volume 1, number 8973.
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