Financial Crisis and the Failure of Economic Theory  book cover
1st Edition

Financial Crisis and the Failure of Economic Theory

ISBN 9780367669270
Published September 30, 2020 by Routledge
208 Pages

FREE Standard Shipping
USD $22.95

Prices & shipping based on shipping country


Book Description

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 framework for anticipating and averting the financial crises of the future.

Table of Contents

Introduction  1. The Financial Crisis and Modern Economics: From Surprise to Puzzlement  2. A Different Look to Economic Theory: The Anthropological Approach  3. The 'Building Blocks' of Modern Economics: We Do Really Need a Meta-Theory  4. The Meta-Theory at Work: A Case Study in Growth Theory and Real Business Cycle Theory  5. Governments and the Financial Crisis: Making Economic Policy in the Dark  6. Explaining More Complex Phenomena: The Financial System  Final Remarks

View More



Ãngel Rodriguez, Autonomous University of Madrid
Jorge Turmo Arnal, Autonomous University of Madrid
Oscar Vara Crespo, Autonomous University of Madrid