This book provides a historical background of the American business cycle, challenges the validity of conventional Keynesian ideology, and presents a bold, alternative theory of how production leads to wealth in our modern economy

"Since the 2007 financial crisis, discussion on issues related to the size, spread and frequency of financial crises has captivated a wide variety of audiences. Why has the world economy experienced such an increase in financial transactions and private and public indebtedness since the 1980s?...

This paper focuses on the way a crisis needs an institutional actor and champion. Through painfully slow intervention and muddling through, the ECB created new policy space for a European financial and banking system that was on the point of collapse. However the institutional commitment to...