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Can We Avoid Another Financial Crisis?


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Table of Contents

Acknowledgements List of Tables and Figures 1. From Triumph to Crisis in Economics 2. Microeconomics, Macroeconomics and Complexity 3. The Lull and The Storm 4. The Smoking Gun of Credit 5. The Political Economy of Private Debt 6. A Cynic s Conclusion Endnotes Bibliography

About the Author

Steve Keen is Professor of Economics and Head of the School of Economics, Politics and History at Kingston University.


"No one is more qualified than Steve Keen to answer the question Can we avoid another financial crisis? with more than a single word. Read this book!" Yanis Varoufakis, former Finance Minister of Greece "In this compelling essay, Steve Keen shows that the Great Moderation was in fact a great delusion and documents, to brutal effect, the foolish complacency of mainstream macroeconomists." James K. Galbraith, University of Texas at Austin "Steve Keen explains why the financial crisis it occurred, and why it can t just get better on its own, along its present track. He also explains in a hilarious and absolutely justified takedown why mainstream economists have a trained incapacity in being unable to understand why the economy has broken down and hence, why they don t have a real solution. We are still living in the aftermath of the 2008 crisis. It s all about debt. But economists fear they will lose their jobs if they say that debts must be written down. Keen asks what is more important: to save the economy, or to save the jobs for economists whose prestige rests on their not understanding why economies are in trouble today." Michael Hudson, author of Killing the Host and The Bubble and Beyond

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