Extracts from Economia.

The writing of Economia was essentially completed in 2003.  It was obvious then that the global financial system must come to crisis within a few years.

The Global Financial Crisis, serious as it is, is only part of a deeper crisis reaching to the core of how modern economies are conceived and managed.  The problem is not just that financial markets have acquired excessive power and are greedy, corrupt, unstable and destructive.  It is not even that the GFC has not yet shown us its worst, as Steven Keen argues (Declaring victory at half time).  It is that mainstream economists have fundamentally mis-identified the nature of the beast they are dealing with.

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