How to Prevent the Next Financial Crisis

Originally Published in the Washington Times, 4/7/2019

What caused the financial crisis and Great Recession of 20082009? A decade later, economists still don’t have a good answer. Of course, the financial bubble in the housing market was the proximate cause, but this begs the question of what inflated the bubble that burst in the first place.

This isn’t just an academic exercise for the history books. It’s critical that we never repeat the mistakes that liquidated more than $7 trillion of wealth and sent unemployment rates to their highest levels in three decades.