Many politicians and pundits believe the recent financial crisis means American banks need more regulation.

George Mason University economics professor Lawrence H. White offers a different perspective. White discussed the causes of the banking and monetary system’s ills and offered some ideas for reform during a presentation today to the John Locke Foundation’s Shaftesbury Society.?

In the video clip below, White discussed the ideal alternative to the current system.

2:55 p.m. update: Click play below to watch the full 54:09 presentation.

You’ll find other John Locke Foundation video presentations here.