Gene Epstein talks about the Great Recession of the US for the period of 2008 and 2009 and its consequences. He mentions three main factors behind the meltdown and describes important concepts, in order to guarantee a better understanding on the subject, providing as well, an analysis from the Austrian perspective, pointing at the failure of crapitalism as the main cause of the the Great Recession. Epstein ends the conference discussing what is to be done in the United States' economy and lays out his proposal for a radical reform to offer a solution to the problem.