Steve Horwitz argues that the Great Recession was caused by failed monetary and regulatory policies. To avoid repeating the mistakes of the past he urges policy-makers to explore market alternatives to central banking and structural reforms of regulatory and fiscal policy processes that would eliminate discretionary policies driven by ignorance and short-term political goals.

Steve Horwitz is Charles A. Dana Professor of Economics at St. Lawrence University in Canton, NY. He is the author of two books, Microfoundations and Macroeconomics: An Austrian Perspective (Routledge, 2000) and Monetary Evolution, Free Banking, and Economic Order (Westview, 1992). He has also written extensively on Austrian economics, Hayekian political economy, monetary theory and history, and macroeconomics.

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