of bubbles and crash

Isn’t is critical to know What Went Wrong With Economics?

Linda Beale noticed that our theory of economics is subject to three critiques:

  1. It helped cause the current economic crisis.
  2. It failed to see it coming.
  3. It doesn’t know how to fix it.

“In my book, that doesn’t leave much out. A theory that actively causes harm, can’t prevent it, and can’t cure it is not much of a theory.”

Pain matters. We should fix its cause.