The Financial Crisis: What Happened and Why, Part 2
Mainstream media and mainstream economists have blamed today's financial crisis on a failure of "free markets." This course sets the record straight.
Dr. Brook describes the actual evolution of the crisis, from the government policies that gave rise to it to the unprecedented expansion of government control over the economy that has followed. He describes the respective roles of the Federal Reserve, government housing policy, and regulation of financial markets in creating the crisis. Dr. Brook places special emphasis on illustrating how this crisis is an example of the Austrian economists' business cycle theory.
Dr. Brook's powerful conclusion is that the financial crisis, in all its complexity, is at root the product of government force.
This course was recorded at the 2009 Objectivist Summer Conference in Boston, MA. (Part 2 of 3)
Mar 22, 2018
Objectivist Conference Presentations
importance of interest rates; Alan Greenspan & Ben Bernanke at the Fed
Supply & Demand in home prices and the Austrian Business Cycle
government intervention in housing
Q: How much fraud mal-investment was and is going on in housing markets?
Tax and other government policies since 1914
Subprime loans by Fannie and Freddie under Bush
Q: How much lobbying is done by lending firms?