If there’s one thing that we know for sure about the current economic crisis, it’s that the controversy over what caused it will rage on for years. This is, of course, a fascinating topic in its own right, but it’s one of more than just academic significance. The outcome of this debate will be a critical element in shaping economic politics for years to come. That helps makes this Reason piece by Katherine Mangu-Ward (questioning the view that “deregulation” was to blame for the meltdown) an important read. Were there regulatory failures? Undoubtedly, but admitting that fact is something very different from conceding that the key to understanding this mess can be found in over-exuberant deregulation.