Civitas Blog

Many conservative leaders are in a quandary about the financial crisis. They approve of de-regulated markets but these selfsame institutions seem to be in need of regulation. Many people in the financial services industry have behaved without regard to the good of others and even without reference to the interests of their own companies. Their conduct has been so self-centred that the most stalwart defenders of a market economy have been embarrassed. Indeed some of the most trenchant criticism has come from enthusiasts for the market.

One minute America’s seemingly riding the crest of an economic boom we are told will never end. The next moment it’s 1929 all over again.

What’s going on and who has brought us to this current sticky pass? Those in search of an explanation of the economic turmoil will find little help from Britain's mainstream media.

The American blogosphere has some helpful pieces on the issue which I should like to draw to the attention of readers of the Civitas blog. One is a recent posting on the Mises Institute website. It is worth checking out, especially if recent events have begun to dent your confidence in the ability of markets to manage the economy better than government.