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The Financial Crisis: Why the Conventional Wisdom Has It All Wrong

September 25, 2014 in Economics

Don’t believe for a moment those economic theorists who tell us the reason for our slow growth, economic malaise, and continued high unemployment is due to the uniqueness of a financially led economic recession. In the new issue of Cato Journal, Richard Kovacevich, Chairman Emeritus of Wells Fargo, outlines the political decisions and regulations that have contributed to the crisis and sluggish recovery. Also in this issue, 2012 Friedman Prize winner Mao Yushi looks at the tragic legacy of China’s Great Famine, and 2014 Friedman Prize winner Leszek Balcerowicz discusses the main problems and proposed solutions with respect to the euro.

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