The economic theory wrecking Europe

Flawed economic reasoning has caused immense suffering throughout Europe and distracted attention from the real causes of the crisis.

When I wrote the first edition of Debunking Economics, I knew that a critique of mainstream economics would not be taken seriously except during or immediately after a major economic crisis. The first edition’s launch coincided with the bursting of the dotcom bubble, which certainly helped make the book a success. But the dotcom bust was a surprisingly mild crisis -- in retrospect, only because the rising subprime bubble counteracted its effects.

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