The 20th century, in contrast to past centuries, was an experiment in progressivism. The idea that the state can be used by the masses to improve the well being of individuals over what can be achieved in a situation of economic liberty. So what came of this? We're finding out is that the power to regulate, is also the power to grant special favors. That giving this power, even to a well intended political class, was resulted in a poor outcome for us.

I find it interesting that the EU took over the currency, interest rates and inflation are set by state actors, and that now we're seeing articles such as this one that blame economic liberties for the failure of the system.