The main reason for the economic crisis is central economic planning, central banking and fiat currency. Once these three things are in place, anything a nation does to try to fix the problem will ultimately fail. To the contrary of conventional thinking this is not a problem with the free market, no nation in the world has anything close to resembling a free market. Once a nation has a central bank, the ability to raise and lower taxes at will, a monopolistic control of the money supply, legal tender laws and fiat currency its economy is anything but free.

The solution is to abandon central economic planning, central banking and fiat currency. Ways of implementing this solution is not just to teardown the old system but to allow individuals to opt out of it. A way to opt out of the central banking system and the fiat currency system is to allow individuals to create independent and autonomous “bank” like entities; also to allow individuals the ability to issue their own currency once it’s back by their goods and services and valued in silver or gold. (Individuals would have the right to refuse to be paid in any currency they have not issued themselves).

To stop government from interfering with these two activities they should be both tax exempt and unregulated. The only exception is in the case of fraud which then it should be handle by the court system. These two activities being tax exempt and unregulated should always be caveat emptor "Let the buyer beware" or in this case let the user beware. It would be up to individuals to assess a business goods, services and practices before accepting its currency; also it would be up to individuals to assess a “bank” like entity services and practices before using them. As mention before in cases of fraud there is the court system but to save time and trouble caveat emptor.

The results of implementing this solution would be businesses having the ability to produce goods and services and create equity. Businesses would know longer depend on banks; banks would now depend on businesses. Another result of implementing this solution would be that “bank” like entities would compete with each other to be more open and transparent to show potential customers that their currency would be safe in their hands. This solution would revitalize local economies when local businesses circulate and accept each others currencies; also “bank” like entities would likely create debit cards to make online and off line shopping more convenient. The economic crisis would slowly dissipate and become a thing of the past with this permanent, innovative and most importantly free market solution.

For more in-depth details on this subject I would refer to two older posts Why The Gold Standard Is Not Enough and Why Everyone Should Be Able To Issue Currency , they are long reads but do go into great detail.