Debunking Financial Crisis Myths

This chapter explores the complexities of the Glass-Steagall repeal and its alleged connection to the 2008 financial crisis, challenging the belief that deregulation was the primary cause. The discussion critiques common misconceptions surrounding economic regulations, emphasizing the influence of expert decisions rather than a lack of regulation. Additionally, it reflects on historical economic downturns, particularly the Depression of 1920-21, drawing contrasts with the Great Depression and examining the actual policies of Herbert Hoover.