There has been no shortage of financial regulation over the last 30 years. The much-faulted era of deregulation is a laughable myth. If anything can be said to have failed in the run-up to the current financial mess, it is the regulatory state. (Of course, much else also failed, including the Federal Reserve system and housing policy.) The idea that we suffer from a shortage of regulation is wrong. Therefore, writes Sheldon Richman, the idea that we need more regulation to prevent a repeat of the debacle is worse than wrong.
GET REASON MAGAZINE
Get Reason's print or digital edition before it’s posted online
- The 3D printable gun that the government can’t stop
- Bitcoin: More than money
- How poker became a crime
- Interview: George Will’s libertarian evolution