The Corner at National Review Online praises a new paper by Arnold Kling, a member of the Mercatus Center's Financial Markets Working Group about the root causes of the Financial Crisis of 2008. His paper emphasizes that policymakers should learn from history so as not to repeat it:
"The history of past regulatory mistakes
suggests that we will not come up with a fool-proof
system going forward. In fact, there is a risk of creating
a financial system even more dependent on centralized
regulation, which could leave it at least as
vulnerable to catastrophic failure."
-Arnold Kling, "Not What They Had in Mind: A History of Policies that Produced the Financial Crisis of 2008"
Check it out here: http://www.mercatus.org/PublicationDetails.aspx?id=28118