In the 29th IEA Current Controversies Paper, Robert Rosenbleeth provides a valuable compendium of free-market blog and think-tank responses to the crash of 2008. A short summary of each article or paper is provided, together with a link to the original piece.
Material is selected from the world's most renowned classical-liberal and liberarian think tanks, including the Cato Institute, the Heritage Foundation and the Ludwig von Mises Institute, as well as the Institute of Economic Affairs.
The overriding message from these readings is clear. Contrary to conventional wisdom, the crash was not the result of unchecked "laissez-faire" capitalism. In fact the credit crunch can be explained by a combination of misguided regulation, government intervention and loose monetary policy. Unfortunately, as the authors point out, governments' responses to the credit crunch would appear to be equally ill-conceived.
2009, Current Controversies 29
Verdict on the Crash: Causes and Policy Implications by Philip Booth et al.
Economic Contractions in the United States: A Failure of Government by Charles K. Rowley and Nathanael Smith.
Money and Asset Prices in Boom and Bust by Tim Congdon.
Money, Inflation and the Constitutional Position of the Central Bank by Milton Friedman and Charles Goodhart.
Denationalisation of Money by F.A. Hayek.