The super-boom resulted because of "credit expansion, and a prevailing misconception, market fundamentalism (aka laissez faire in the nineteenth century) which holds that markets should be given free rein."
First, explain to me how anyone as well-read and thoughtful as Soros could equate credit expansion and laissez faire? Isn't the very admission of massive credit expansion also an admission that we deviated from laissez faire.
He is not alone, whilst some observers claim that this is the "end of the *free market" others note that with governments creating monetary policy and central banks artificially controlling liquidity there never was a free market.
*A free market is a market that is free of government intervention and regulation, besides the minimal function of maintaining the legal system and protecting property rights[1], and is free of private force and fraud.
