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Hubris: Why Economists Failed to Predict the Crisis and How to Avoid the Next One

by Meghnad Desai
Regular price RM45.00 MYR
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When economic certainty becomes dangerous

Meghnad Desai examines why economists missed the 2007–2008 financial crisis. He traces economics alongside major political events and challenges reliance on a single paradigm. Accessible and provocative, the book argues for revisiting diverse theories to help avert future crises.

Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.
Just Arrived

Hubris: Why Economists Failed to Predict the Crisis and How to Avoid the Next One

by Meghnad Desai
Regular price RM45.00 MYR
Unit price
per
Condition guide
ISBN: 9780300219494
Author: Meghnad Desai
Date of Publication: 2016-06-14
Format: Paperback
Related Collections: Economics, History, Politics
Goodreads rating: 3.63
(rated by 79 readers)

Description

A frank assessment of economists’ blindness before the financial crash in 2007–2008 and what must be done to avert a sequel The failure of economists to anticipate the global financial crisis and mitigate the impact of the ensuing recession has spurred a public outcry. Economists are under fire, but questions concerning exactly how to redeem the discipline remain unanswered. In this provocative book, renowned economist Meghnad Desai investigates the evolution of economics and maps its trajectory against the occurrence of major political events to provide a definitive answer. Desai underscores the contribution of hubris to economists’ calamitous lack of foresight, and he makes a persuasive case for the profession to re-engage with the history of economic thought. He dismisses the notion that one over-arching paradigm can resolve all economic eventualities while urging that an array of already-available theories and approaches be considered anew for the insights they may provide toward preventing future economic catastrophes. With an accessible style and keen common sense, Desai offers a fresh perspective on some of the most important economic issues of our time.
 

When economic certainty becomes dangerous

Meghnad Desai examines why economists missed the 2007–2008 financial crisis. He traces economics alongside major political events and challenges reliance on a single paradigm. Accessible and provocative, the book argues for revisiting diverse theories to help avert future crises.

Note: While we do our best to ensure the accuracy of cover images, ISBNs may at times be reused for different editions of the same title which may hence appear as a different cover.

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