Econned
How mainstream economic ideas helped cause the 2008 crash, from a sharp financial blogger.
Yves Smith, the pen name of the financial blogger behind Naked Capitalism, argues that economists’ faith in efficient markets and deregulation helped cause the financial crisis of 2008. She explains how those ideas shaped policy and how banks exploited them, and calls for a different kind of economics to guide regulation.
Recommended by 1 Person
Juliet Schor
Econned is a great book, which deconstructs economics. It is kind of an “Occupy economics” text that looks at what is wrong with the mainstream economists’ views. It is much more sympathetic to Keynesian economics. It looks at how we have gone wrong in our economic thinking and I think that is an important corrective. My PhD was in economics and I think that for people who are interested in understanding the run-up to the financial collapse, and what’s happened since, this is a great book.
Interview · March 2012
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