Great article from Mises.org on how absolutely stupid it is to claim that laissez faire caused the credit crisis.
A fundemental rule of sound argument is to define your premises. In this statement, “laissez faire caused the crisis”, one of the premises is that we currently live under a system of laissez faire. This requires a definition of laissez faire, which is seldom given by those making the claim, yet the phrase gets defined de facto in the context of the article in which the statement appears. And it ussually comes to mean completely unleashed free-market capitalism - a definition which would destroy the original statement, since we do not live under such a system.
Read the article.
