Economic Crises


Today's crises arise from yesterday's solutions.

When examined closely we find that nearly all economic "crises" occur as the result of previous solutions to "problems" in markets.


Economic crises seem to occur with significant regularity. The topic of economic crises takes up a lot of media time these days. So I will devote space here to discussing the whys and wherefores of economic crises.

The Roots of a Financial Crisis

The Fraud Enforcement and Recovery Act of 2009 created the Financial Crisis Inquiry Commission (FCIC) to find the causes of the financial crisis of 2008. They have started the process, however, by looking in all the wrong places. I wrote this paper to guide them (or any reader) to understanding the real source of the problem.