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The crisis in economic theory : a review essay

Hoover, Kevin D. - 2015

The Great Recession and the financial crisis of 2007-09 prompted ca lls for fundamental reforms of economic theory. The role of theory in economics and in recent economic events is considered in light of two recen t books: the sociologist Richard Swedberg's The Art of Social Theory and the...

Persistent link: https://www.econbiz.de/10011600520

Politicians, bankers and the Great Depression : the Spanish banking crisis of 1931

Jorge-Sotelo, Enrique - 2022

This paper contributes to the literature on moral hazard, lending of last resort and the political origins of banking crises. Drawing on newly accessed quantitative and qualitative archival sources the paper documents how a bank-Banco de Cataluña-formed a coalition with the Dictatorship of...

Persistent link: https://www.econbiz.de/10013382074

O.M.W. Sprague (the man who "wrote the book” on financial crises) meets the Great Depression

Rockoff, Hugh - In: Jahrbuch für Wirtschaftsgeschichte 63 (2022) 2, pp. 527-557

When the Great Depression struck the United States, O.M.W. Sprague was America's foremost expert on financial crises. His History of Crises under the National Banking System is a frequently cited classic. Had he diagnosed a banking panic and called for an aggressive response by the Federal...

Persistent link: https://www.econbiz.de/10013447677

Crisis and the failure of economic theory : the responsibility of economists for the great recession

Bertocco, Giancarlo - 2017

economists and the crisis -- 3. The limits of the mainstream theory -- Part II: An alternative theoretical approach -- 4. Keynes …Economists have rightly been criticized for not having foreseen the crisis that exploded in 2007-2008. As Giancarlo … Bertocco eloquently argues, responsibility does indeed rest heavily on their shoulders. By developing a theory which excluded …

Persistent link: https://www.econbiz.de/10012251734

Crisis and the failure of economic theory : the responsibility of economists for the Great Recession

Bertocco, Giancarlo - 2017

"Economists have rightly been criticized for not having foreseen the crisis that exploded in 2007-2008. As Giancarlo … Bertocco eloquently argues, responsibility does indeed rest heavily on their shoulders. By developing a theory which excluded … the crisis. The author goes on to argue that economists not only failed to foresee the crisis but actually ignored the …

Persistent link: https://www.econbiz.de/10011636923

The failure of capitalist production : underlying causes of the Great Recession

Kliman, Andrew - 2012

Persistent link: https://www.econbiz.de/10011778073

Short-run macro after the crisis : the end of the "new" neoclassical synthesis?

Landmann, Oliver - 2014 - Rev.

The Financial Crisis of 2008, and the Great Recession in its wake, have shaken up macroeconomics. The paradigm of the "New" Neoclassical Synthesis, which seemed to provide a robust framework of analysis for short-run macro not long ago, fails to capture key elements of the recent crisis. This...

Persistent link: https://www.econbiz.de/10010242840

Booms and banking crises

Boissay, Frédéric; Collard, Fabrice; Smets, Frank - 2016

Persistent link: https://www.econbiz.de/10011439815

Alexandre Lamfalussy and the origins of instability in capitalist economies

Maes, Ivo - 2023

In this paper the vision of the "Young" and "Elder" Lamfalussy on the origins of instability in capitalist economies will be contrasted. The young Lamfalussy found the origins of instability in medium-term cumulative processes in the real sector of the economy, very much inspired by the vicious...

Persistent link: https://www.econbiz.de/10014233577

Verteilung, Konjunktur, Wachstum : zur wirtschaftspolitischen Anwendbarkeit theoretischer Modelle

Kurz, Rudi - 1982

Persistent link: https://www.econbiz.de/10000072494

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