This paper proposes that the global financial and economic crisis has a single cause underlying all other causes. The single cause is attributed to the economic paradigm which drives individual behaviour, business, government and education. We define the economic paradigm and explain its power...

The global financial crisis has provided clear evidence that the global financial system, including that of Australia, is founded on flawed economic theories. There is no scientific justification for sophisticated risk management, complex institutional structures or intrusive regulation....