
Edition: 2010
Pages: 128
Series: STL
ISBN: 9788842093053
Pages: 128
Series: STL
ISBN: 9788842093053
Economists that Err. The cultural roots of the crisis
"The errors of the dominant economic culture led us to dance blindfolded on the verge of the crisis, before we fell in. Some of the most serious errors included the myth of the market's all-powerful, indivisible hand; blind faith in mechanisms that would act as automatic stabilizers; hostility towards a single rulebook; the systematic underestimation of uncertainty. An open discussion of these issues is now urgently called for, to ward off the risk of a repeat tragedy: which would not be like a farce, but a tragedy squared".