Making Sense of This Economic Crisis
Against The Current vol. 146
Hossein-zadeh, Ismael
http://www.solidarity-us.org/node/2804
Date Written: 2010-05-01
Publisher: Against The Current
Year Published: 2010
Resource Type: Article
Cx Number: CX13652
While it now is generally agreed that the main source of the 2008 financial implosion was the accumulation of too much toxic debt, there is little agreement on the factors that precipitated the buildup of all that unsustainable debt. Whereas neoclassical/neoliberal economists blame the “irrational behavior of the agents” (both lenders and borrowers), Keynesian economists blame financial deregulation and insufficient public policy.
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