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Did Economic Analysis Fail in the Current Financial Crisis?

In: The First Great Recession of the 21st Century

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  • Julio Segura

Abstract

The 2008–10 financial crisis and the global recession it created is a complex phenomenon that warrants detailed examination. The various essays in this book utilise several alternative paradigms to provide a plausible explanation and a credible cure. Great detail is given to this important analysis from different theoretical perspectives, presenting a clearer understanding of what went wrong and expounding misinterpretations of current theories and practices.

Suggested Citation

  • Julio Segura, 2011. "Did Economic Analysis Fail in the Current Financial Crisis?," Chapters, in: Óscar Dejuán & Eladio Febrero & Maria Cristina Marcuzzo (ed.), The First Great Recession of the 21st Century, chapter 5, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:14193_5
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    References listed on IDEAS

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    1. D. Colander & H. Follmer & A. Haas & M. Goldberg & K. Juselius & A. Kirman & T. Lux & B. Sloth, 2010. "The Financial Crisis and the Systemic Failure of Academic Economics," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 6.
    2. Óscar Dejuán & Eladio Febrero & Maria Cristina Marcuzzo (ed.), 2011. "The First Great Recession of the 21st Century," Books, Edward Elgar Publishing, number 14193.
    3. Joan Robinson, 1962. "Essays in the Theory of Economic Growth," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-00626-7.
    4. Shleifer, Andrei, 2000. "Inefficient Markets: An Introduction to Behavioral Finance," OUP Catalogue, Oxford University Press, number 9780198292272.
    5. Maria Cristina Marcuzzo & Ghislain Deleplace & Paolo Paesani, 2020. "Introduction," Palgrave Studies in the History of Economic Thought, in: Maria Cristina Marcuzzo & Ghislain Deleplace & Paolo Paesani (ed.), New Perspectives on Political Economy and Its History, chapter 0, pages 1-18, Palgrave Macmillan.
    6. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
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