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

Paperback | June 14, 2016

byMeghnad Desai

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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.

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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 evoluti...

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.

other books by Meghnad Desai

Pakeezah
Pakeezah

Kobo ebook|Aug 1 2013

$11.99

Global Governance and Financial Crises
Global Governance and Financial Crises

Kobo ebook|Feb 24 2004

$72.11

see all books by Meghnad Desai
Format:PaperbackDimensions:304 pages, 8.5 × 5.5 × 0.68 inPublished:June 14, 2016Publisher:Yale University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0300219490

ISBN - 13:9780300219494

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