Can we avoid another financial crisis?

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Can we avoid anoth­er finan­cial cri­sis?

In 2008, con­ven­tion­al eco­nom­ics led us blind­fold­ed into the great­est eco­nom­ic cri­sis since the Great Depres­sion. Almost a decade lat­er, with the glob­al econ­o­my wal­low­ing in low growth that they can’t explain, main­stream econ­o­mists are reluc­tant­ly com­ing to realise that their mod­els are use­less for under­stand­ing the real world.

How did main­stream econ­o­mists not see the cri­sis com­ing? Was it unpre­dictable, as they now assert, or did their the­o­ry blind them to the real caus­es? Will anoth­er finan­cial cri­sis occur?
These ques­tions and oth­ers are asked and answered in Can we avoid anoth­er finan­cial cri­sis? , a short (25,000 word) expla­na­tion for the lay read­er of how we got into this eco­nom­ic mess, and why we are unlike­ly to get out of it.

The book is avail­able now in the UK. It will come out in mid-May in the USA. A e‑book ver­sion will also be avail­able in May.

Sup­port my work by becom­ing my Patron on Patre­on. Eco­nom­ics is bro­ken, and Uni­ver­si­ties won’t fund the repair job. Research fund­ing is con­trolled by and goes over­whelm­ing­ly to Neo­clas­si­cal econ­o­mists. Inno­va­tors out­side the Neo­clas­si­cal main­stream aren’t even con­sid­ered for posi­tions at lead­ing Uni­ver­si­ties, and have to sur­vive if at all at low­ly ranked insti­tu­tions where their exis­tence is sub­ject to whims of gov­ern­ment pol­i­cy. If you want a new eco­nom­ics, you–the public–are going to have to fund its devel­op­ment direct­ly.

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About Steve Keen

I am Professor of Economics and Head of Economics, History and Politics at Kingston University London, and a long time critic of conventional economic thought. As well as attacking mainstream thought in Debunking Economics, I am also developing an alternative dynamic approach to economic modelling. The key issue I am tackling here is the prospect for a debt-deflation on the back of the enormous private debts accumulated globally, and our very low rate of inflation.