The global financial crisis has revived both Austrian and post-Keynesian economic theories and reinvigorated the debate between these schools over the nature of the business cycle, the impact of external shocks, and the sources of uncertainty that destabilize markets. The Industrial Age social movement known as distributism also has experienced a popular resurgence because of its warnings about the combination of political and economic power and the moral consequences of economic indirection. This article contends that these three diverse perspectives are critically important in their own unique ways to the preservation of economic freedom in an era of immense complexity, massive bailouts, and calls for heightened regulation of a multifaceted and dynamic financial sector.
Charles McDaniel, "Reviving Old Debates: Austrian, Post-Keynesian, and Distributist Views of Financial Crisis," Journal of Markets & Morality 15, no. 1 (Spring 2012): 37-63