The financial crashes of the 1990s have been blamed on financial liberalization, political crises, and changes in U.S. interest rates and the value of the dollar. In reality these crashes, unlike previous ones, were rooted in a clash between a global investment community that favored private property and free markets, and governments that did not.
Download PDF
Evan Osborne is a professor of economics at Wright State University.
| Other Independent Review articles by Evan Osborne | |
| Fall 2024 | The Fragility of China: Breaking Points of an Invincible Regime |
| Spring 2012 | China’s First Liberal |
| Summer 2008 | Commerce Is Beautiful |
