The Common Narrative of the Great Recession

I think the great recession was caused by lots of regulations, particularly in the housing market, but also the decisions by the central banks. They were the major causes of the great recession. And not the narrative that dominated, the Narrative that dominated was that it was a failure of markets, a failure of capitalism. Cangianism and government intervention in what the US would call the new deal is what saved us from the depression. But the interventionism that occurred actually lengthened and deepened the depression. It would have been over much more quickly without that Cangian intervention. So many people's younger peoples use about how the market of the congregation worked is very much framed by that