Can We Avoid Another Financial Crisis?

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INFORMATION

AUTHOR
Steve Keen
DIMENSION
9,43 MB
FILE NAME
Can We Avoid Another Financial Crisis?.pdf
ISBN
7069273078386

DESCRIPTION

The Great Financial Crash had cataclysmic effects on the global economy, and took conventional economists completely by surprise. Many leading commentators declared shortly before the crisis that the magical recipe for eternal stability had been found. Less than a year later, the biggest economic crisis since the Great Depression erupted.In this explosive book, Steve Keen, one of the very few economists who anticipated the crash, shows why the self-declared experts were wrong and how ever-rising levels of private debt make another financial crisis almost inevitable unless politicians tackle the real dynamics causing financial instability. He also identifies the economies that have become ?The Walking Dead of Debt?, and those that are next in line - including Australia, Belgium, China, Canada and South Korea. A major intervention by a fearlessly iconoclastic figure, this book is essential reading for anyone who wants to understand the true nature of the global economic system.

Quote from Dec 200, Nobel Prize winner Robert Lucas "Its central problem of depression-prevention has been solved, for all practical purposes, and is in fact solved for many decades" 4 years later the claim fell apart. Hyman Minsky a bit different.

Read this book!" —Yanis Varoufakis, former Finance Minister of Greece "In this compelling essay, Steve Keen shows that the "Great Moderation" was in fact a great delusion and documents, to brutal effect, the foolish complacency of mainstream macroeconomists ... Can we avoid another financial crisis? is a brief (140 page, 25,000 word) explanation for the lay reader of how the 2008 crisis was caused by factors that mainstream economics ignores—fundamentally, the levels of private debt and credit-based demand—and why other countries that avoided a crisis in 2008 are likely to suffer a similar crisis in the near future. Minsky pointed out a profound and sublime truth that, to answer the question of whether another financial crisis is possible: it is necessary to have an economic theory which makes great depressions one of the possible states in which our type of capitalist economy can find itself. Share - Can We Avoid Another Financial Crisis? by S. Keen (Paperback, 2017) Can We Avoid Another Financial Crisis? by S.

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