For critics of mainstream economics, the 2008 financial crisis - TopicsExpress

For critics of mainstream economics, the 2008 financial crisis represents the final nail in the coffin for a paradigm that should have died decades ago. Not only did economists fail to see it coming, they can’t agree on how to get past it and they have yet to produce a model that can understand it fully... I have been compiling the most common lines used to defend economic theory after the crisis... I’ve started with what I consider the weakest argument... Argument #1: “We did a great job in the boom!”

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