Romer blamed financial crisis on government regulation, not private corruption

Evidence

Note well that for Romer it was not private financial sector “corruption” that produced instability, but rather government snafus in regulation, the standard public-choice account. His grasp of economic history was not very profound, either. — Philip Mirowski, Never Let a Serious Crisis Go to Waste, 740

Categorization

• XREF: Connects to the reader’s goal of mapping the neoliberal thought collective — Romer illustrates how crisis explained as regulatory failure sustains the austerity orthodoxy. — connects to: European banking crisis was mostly private-sector exposure, not sovereign over-spending — Mark Blyth, Austerity: The History of a Dangerous…, 240; De-regulation created a criminogenic environment allowing mass financial wrongdoing

Broader Connections

• De-regulation created a criminogenic environment allowing mass financial wrongdoing #contradicts (0.80)