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Meltdown

From 2015 Capitalism has failed! This is the constant message that people have been hearing since the 2008 economic crisis. Politicians, economists, and mainstream media agree that free market capitalism is the culprit that caused such economic mess. Greed and excessive risk taking claimed to be inherent in the market are to blame. "The crisis was the fault of libertarianism," an editor of a popular website actually believed this claiming that "'unregulated markets'" (p. 4) caused the problem. And since this is the case, that editor thinks that the 2008 crisis marked "the end of libertarianism" (ibid.). Since capitalism and libertarianism were considered responsible for the 2008 economic trouble, any free market solution to the crisis was automatically dismissed and persisting to do so would be considered insane. The proposed remedy was greater government intervention in the forms of increasing the money supply, more debt, and bigger spending. The ...