Chapter 28: The great crash of 2008 and the reform of economics
Category:
Handbook Chapter
Published:
26 Apr 2019
Page Range:
439–456
Collection:
Economics 2019
DOI:
https://doi.org/10.4337/9781788118606.00041
Restricted access

The 2008 economic crash led to noted shifts of opinion among some world leaders. Does this crisis create favourable conditions for the reform and revitalisation of economics itself – from a subject dominated by mathematical techniques to a discipline more oriented to understanding real-world institutions and actors? And why were warnings of financial collapse not heeded? Recent shortcomings are partly related to the global triumph of market individualist ideology and partly to the exaggerated roles of modelling and quantification. These failures of economics are partly peculiar to the discipline and are also a result of other wider institutional and cultural forces.

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Cover The Handbook of Globalisation, Third Edition
The Handbook of Globalisation, Third Edition
Edited by
Jonathan Michie
Handbook
Published:
26 Apr 2019
Print ISBN:
9781788118590
eISBN:
9781788118606
DOI:
https://doi.org/10.4337/9781788118606
Pages:
c 488
Collection:
Economics 2019
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