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How Crises Shaped Economic Ideas and Policies

Wiser After the Events?

  • Book
  • © 2015

Overview

Authors:
  1. Nicos Christodoulakis

    1. Department of International & European Economics Studies, Athens University of Economics & Business (AUEB), Athens, Greece

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  • Relates past economic crises to questions of modern economics
  • Describes the intrinsic link between the development of economic theories and real-world crises
  • Shows that both unquestioned belief and strong doubts in economic theories can be harmful to an economy

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Table of contents (15 chapters)

  1. Front Matter

    Pages i-xiii
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  2. Introduction: Delusions and Lessons

    • Nicos Christodoulakis
    Pages 1-11

  3. Forms of Economic Theories and Crises

    • Nicos Christodoulakis
    Pages 13-23

  4. How Old Are Economics?

    • Nicos Christodoulakis
    Pages 25-39

  5. Economic Crises and Practices in the Roman and Byzantine Era

    • Nicos Christodoulakis
    Pages 41-50

  6. Economic Theories and Practices in Medieval Europe

    • Nicos Christodoulakis
    Pages 51-68

  7. Economics Before the Industrial Revolution

    • Nicos Christodoulakis
    Pages 69-85

  8. The Industrial Revolution and the Foundation of Classical Economics

    • Nicos Christodoulakis
    Pages 87-101

  9. Crises and Theories After the Industrial Revolution

    • Nicos Christodoulakis
    Pages 103-117

  10. From Accumulation to Distribution

    • Nicos Christodoulakis
    Pages 119-139

  11. The Great Crisis and the Theory of Keynes

    • Nicos Christodoulakis
    Pages 141-154

  12. Theories of Central Planning and the Socialist Crises

    • Nicos Christodoulakis
    Pages 155-170

  13. From Keynesian Economics to Stagflation

    • Nicos Christodoulakis
    Pages 171-184

  14. Development, Collapse and New Theories

    • Nicos Christodoulakis
    Pages 185-196

  15. Post 2008: Challenging the Foundations of Orthodoxy

    • Nicos Christodoulakis
    Pages 197-211

  16. Is There a Methodological Crisis in Economics?

    • Nicos Christodoulakis
    Pages 213-222
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About this book

This book explores how successful the various tenets of economic thought have been in prognosticating or remedying economic crises. Examining key episodes in economic history, from famines in antiquity to present-day financial collapse, the author finds that several theories failed to cope with a crisis and lost their academic impact. The author also presents cases in which major theoretical innovations were achieved after the experience of a crisis as well as cases where a completely new theory was needed to explain and face the events. This book will appeal to researchers and scholars interested in understanding how theoretical developments in economics are affected by real-world economic crises.

Authors and Affiliations

  • Department of International & European Economics Studies, Athens University of Economics & Business (AUEB), Athens, Greece

    Nicos Christodoulakis

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