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Financial Crisis and the Failure of Economic Theory

Financial Crisis and the Failure of Economic Theory

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  • ISBN:9781848935150
  • Editorial: Pickering And Chatto
  • Fecha de la edición:
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  • Nº Pág.:208
  • Idiomas:Ingles

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The global financial crisis of 2008 was largely unpredicted. If economic theory has a role to play in predicting future catastrophes then the methods we rely on need to change. The authors of this study propose a new theory of economics based on more detailed understanding of how and why people behave as they do within their environment. This 'anthropological approach' uses the strengths of many existing economic theories, including Keynesian and Austrian economics, to present a new framework for anticipating and averting the financial crises of the future.

1 The Current Economic Crisis and the Lessons that We Can Learn from It 2 A Different Look to Economic Theory: The Anthropological Approach 3 Weaknesses and Strengths of Contemporary Theories 4 Focusing on Economic Policy and the Lessons We Can Learn to Improve Economic Theory 5 Substantial Improvements 6 Methodological Improvements

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