Financial Crisis and the Failure of Economic Theory |
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| Author:
| Turmo Arnal, Jorge
Vara, Oscar |
| Series title: | Modern Heterodox Economics Ser. |
| ISBN: | 978-1-78144-492-4 |
| Publication Date: | Oct 2014 |
| Publisher: | Pickering & Chatto Publishers, Limited
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| Book Format: | Ebook |
| List Price: | USD $50.00 |
Book Description:
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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...
More DescriptionThe 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.