The Economic Crisis between Liberalization and Government Intervention

The purpose of this paper is to briefly examine how the financial crisis of 2007 revived the dispute between the two main economic doctrines: liberalism and interventionism. The analysis concentrates on clarifying whether the recent events can be attributed to any of these two notions, or more precisely to find the connection between them. Although a large part of the economic literature has attributed the crisis to the excess of liberalization, this article concludes that an important role was played by the level of inadequate regulation. In order to avoid, in the future, events of this magnitude it is necessary to accurately identify the real causes and the valuable lessons that can be learned.