Economic crisis: Are we in good hands yet? April 1, 2009

As the whole world is being affected by the consequences of the worst financial crisis since the Great Crash of 1929, with many gloomy scenarios coming from each relevant economic institution in the world every other week, many questions arise. Why can’t economists -and the government they advise- find a solution to this huge mess? Why with many people being aware of the risks taken by financial institutions all over, the system did nothing to change in the first place? With a few hundred years of development of economic thought, so many star economists out there, and quite a few universities claiming to offer the best economic courses in the world, why do world leaders not manage to agree on a solution? (more…)