Hubris: Why Economists Failed To Predict The Crisis And How To Avoid The Next One

May 26, 2015|
Hubris: Why Economists Failed To Predict The Crisis And How To Avoid The Next One by Meghnad Desai
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A frank assessment of economists’ blindness before the financial crash in 2007–2008 and what must be done to avert a sequel

The failure of economists to anticipate the global financial crisis and mitigate the impact of the ensuing recession has spurred a public outcry. Economists are under fire, but questions concerning exactly how to redeem the discipline remain unanswered. In this provocative book, renowned economist Meghnad Desai investigates the evolution of economics and maps its trajectory against the occurrence of major political events to provide a definitive answer.
 
Desai underscores the contribution of hubris to economists’ calamitous lack of foresight, and he makes a persuasive case for the profession to re-engage with the history of economic thought. He dismisses the notion that one over-arching paradigm can resolve all economic eventualities while urging that an array of already-available theories and approaches be considered anew for the insights they may provide toward preventing future economic catastrophes. With an accessible style and keen common sense, Desai offers a fresh perspective on some of the most important economic issues of our time.
Meghnad Desai is emeritus professor of economics, London School of Economics, where he was also founder and former director of the Global Governance Research Centre. He is a member of the House of Lords and chairman of the Advisory Board at the Official Monetary and Financial Institutions Forum. He lives in London.
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Title:Hubris: Why Economists Failed To Predict The Crisis And How To Avoid The Next One
Format:Hardcover
Product dimensions:304 pages, 8.5 X 5.5 X 1.06 in
Shipping dimensions:304 pages, 8.5 X 5.5 X 1.06 in
Published:May 26, 2015
Publisher:Yale University Press
Language:English
Appropriate for ages:All ages
ISBN - 13:9780300213546

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