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The paper discusses the impact of the financial crisis on macroeconomics and on research into financial markets. The cornerstones of the economic mainstream were made obsolete by actual developments in recent years, and there are now signs that a fundamental paradigm shift is possible. After the...
Persistent link: https://www.econbiz.de/10009728459
Finance has come in for a great deal of criticism after the global financial crisis of 2007 and 2008. Clearly there were serious problems with finance as it was practiced in the years before the crisis. To the extent that this was only a gap between theory and practice, there is a need for...
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Is the economic and financial crisis also a crisis of Economics? From different perspectives, today there is rather … harsh criticism of Economics as a Social Science. In this paper, first, some of the recent failures of Economics are … economic model of behaviour, the mathematisation of Economics and the principle of value freedom. The appropriate role of the …
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Intermediation and the Economy -- 5. The Evolution of Financial Intermediation -- 6. Economics' Quest for Relevance -- 7. Theories of …
Persistent link: https://www.econbiz.de/10012397414