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Hubris Why Economists Failed to Predict the Crisis & How to Avoid the Next One

by Meghnad Desai
Hubris Why Economists Failed to Predict the Crisis & How to Avoid the Next One

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ISBN13: 9780300213546
ISBN10: 0300213549
Condition: Standard
DustJacket: Standard

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Synopses & Reviews

Publisher Comments

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.

and#160;

Desai underscores the contribution of hubris to economistsandrsquo; 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.

Review

and#39;Here is something completely different: a really rather delightful and useful little survey of economic history... that deserves to be widely read.andrsquo;andmdash;Diana Hunter, Financial World.andnbsp;

Synopsis

A frank assessment of economistsandrsquo; blindness before the financial crash in 2007andndash;2008 and what must be done to avert a sequel

Synopsis

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.

About the Author

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 Official Monetary and Financial Institutions Forum. He lives in London.

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Product Details

ISBN:
9780300213546
Binding:
Hardcover
Publication date:
05/26/2015
Publisher:
YALE UNIVERSITY PRESS
Pages:
304
Height:
1.00IN
Width:
5.80IN
Thickness:
.75
Illustration:
Yes
Copyright Year:
2015
UPC Code:
9780300213546
Author:
Meghnad Desai
Author:
Meghnad Desai
Subject:
Business-Accounting and Finance

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