The great financial crisis had catastrophic effects on the global economy and took mainstream economists completely by surprise. Many prominent commentators declared shortly before the crisis that the magic recipe for eternal stability had been found. Less than a year later, there was the biggest economic crisis since the Great Depression erupted. In this explosive book, Steve Keen, one of the few economists who anticipated collapse, shows why self-declared experts were wrong and how rising levels of private debt make another financial crisis almost inevitable, unless politicians address the real dynamics that cause financial instability. It also identifies economies that have become "the undead of debt" and those that are next, including Australia, Belgium, China, Canada and South Korea. This work is the valuable intervention of a fearlessly iconoclastic figure, so it will be essenti...read more
