
For years the discipline of economic theory has been moving away from the real world in pursuit of formalized axioms and mathematical models that maintained a precarious relationship with reality. Commentators and journalists have tried to fill that void as best they can, but in the absence of a solid economic theory, the media have been prey to the short-sightedness of fashion and the immediate reading of economic trends and events. Consequently, the underlying riddles of economic evolution after World War II have remained largely unclear or explained. Robert Brenner, displaying his skills as an economist and historian, has tried to respond to that challenge. In this superb analysis of the behavior of the world economy from 1950 to the current financial crisis that has ended the neoliberal model of financialized economy of the last three decades - to which he has dedicated a broad ch...read more