Introduction

Wilfried Eecke ()
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Wilfried Eecke: Georgetown University

Chapter Chapter 1 in Ethical Reflections on the Financial Crisis 2007/2008, 2013, pp 1-4 from Springer

Abstract: Abstract In this introduction I sketch the problem that I will address in the book: the financial crisis 2007–2008 and the subsequent recession. I point to the fact that notwithstanding Adam Smith’s defense of the free market, he also points to a role for the government in promoting a well-functioning economy. I quote Adam Smith’s argument for the necessity of governmental oversight of banking. We contrast this to Greenspan’s naive belief in self-regulation of the banking system. We document Greenspan’s opposition to banking regulation.

Keywords: Adam Smith; Financial Crisis 2007–2008; Banking regulations; Greenspan; Merit goods; Capitalism; The new economy (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-642-35091-7_1

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DOI: 10.1007/978-3-642-35091-7_1

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