Introduction

Alvaro Cencini and Sergio Rossi
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Alvaro Cencini: University of Lugano
Sergio Rossi: University of Fribourg

A chapter in Economic and Financial Crises, 2015, pp 1-12 from Palgrave Macmillan

Abstract: Abstract Confronted with the most serious economic and financial crises since the 1930s, economists should feel the need to question their approach to economic analysis as well as the conceptual background of mainstream economics. Their mathematically sophisticated models, whether neoclassical, new classical, Keynesian, or New Keynesian, have clearly proved to be incapable of avoiding, let alone explaining, the devastating crises that are hampering our economies both nationally and internationally. The reason for this failure lies in their poor understanding of the logical laws governing our economic systems based, as they are, on bank money.

Keywords: Economic Agent; External Shock; External Debt; Sovereign Debt; Mainstream Economic (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-46190-2_1

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DOI: 10.1057/9781137461902_1

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