Abstract
After the financial crisis erupted, the Queen famously asked on a visit to the London School of Economics why the problems hadn’t been spotted in advance. The true answer — one which the Queen presumably was not supplied with — is that economists had developed a deeply flawed paradigm for how the economy operates. Economists posited a world of equilibrium and rationality, in which money and the operations of finance were essentially inert. This academic model turned out to be far removed from reality.
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© 2016 Marathan Asset Management LLP
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Chancellor, E. (2016). Accidents in Waiting. In: Chancellor, E. (eds) Capital Returns. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-137-57165-6_5
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DOI: https://doi.org/10.1007/978-1-137-57165-6_5
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-55541-3
Online ISBN: 978-1-137-57165-6
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