Why the Economists Got it Wrong: The Crisis and Its Cultural Roots‘Why the Economists Got It Wrong’ illustrates the origins and development of the financial crisis, tracing its cultural origins in mainstream views which favoured financial liberalization policies. These views are contrasted with those of Keynes and Keynesian economists such as Minsky. Thus, among other things, Keynes’s ideas on uncertainty and Minsky’s ideas on financial fragility are taken up. The book points to an interpretation of economic events where uncertainty plays a central role, the dichotomy between real and monetary variables is rejected, and elements from the Classical approach are revived. This implies drastic changes in economic policy recipes, and particularly at economic policies aimed at building institutional and regulatory structures in order to counter financial fragility. |
Contents
Introduction | 1 |
The Sequence of Events | 5 |
The Causes of the Financial Crisis | 13 |
The Effects of the Crisis | 25 |
The Economists who Foresaw the Crisis | 33 |
Risk and Uncertainty | 41 |
Neoclassical Candides and Keynesian Voltaires | 49 |
A New Bretton Woods? | 61 |
The Future of Capitalism | 69 |
| 71 | |
Other editions - View all
Why the Economists Got It Wrong: The Crisis and Its Cultural Roots Alessandro Roncaglia Limited preview - 2010 |
Why the Economists Got It Wrong: The Crisis and Its Cultural Roots Alessandro Roncaglia No preview available - 2010 |