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Hubris : Why Economists Failed to Predict the Crisis and How to Avoid the Next One: Book by Meghnad Desai

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

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ISBN: 9789351774037    Publisher: Harper Collins India Year of publishing: 2015     Format:  Paperback No of Pages: 304        Language: English
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...Read more
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.

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About the author: Meghnad Desai
Meghnad Desai is emeritus professor of economics, London School of Economics, where he was also founder and former director of the Global Governance Research... Read more
Meghnad Desai is emeritus professor of economics, London School of Economics, where he was also founder and former director of the Global Governance Research Centre. He is a member of the House of Lords and chairman of the Official Monetary and Financial Institutions Forum. He lives in London.
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