Financial Crisis and Economic Recession

Huerta de Soto Jesus
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Huerta de Soto Jesus: Universidad Rey Juan Carlos, Madrid

Revista OEconomica, 2011, issue 01

Abstract: The logic of the historical evolution of the wrong institutional design that affects the financial and monetary system of the so called free market economies up to day is somehow easy to understand: bubbles did continue, financial crisis and economic recessions were not avoided, the bail out of banks was regularly demanded, the lender of last resort was created precisely to bail out the banks.

Keywords: state; market; central banking; fractional reserve banking; fiduciary media; economic crisis (search for similar items in EconPapers)
JEL-codes: B13 H11 H20 O10 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:oen:econom:y:2011:i:01:id:284

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