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How economists predicted the wrong financial crisis

It is often said that economists failed to see a crisis coming in 2008. That is only half true

By Duncan Weldon   August 2018

As the 10th anniversary of the fall of Lehman Brothers approaches, many books on the financial crisis will be published. Few are likely to match Adam Tooze’s Crashed in scope, ambition or rigour. This is truly contemporary history—the book runs right up to the end of 2017. It is hard to think of another author who can write as authoritatively on such a wide range of subjects—from the workings of…

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