This paper highlights a number of flaws within macro and financial economics that originated the 2007-2011 global economic and financial crisis. These flaws are deeply rooted in neoclassical economics, so much so as the lack of pluralism within the economics profession makes it impossible for...

The crisis that burst in 2007 has revealed a number of conceptual and methodological flaws of neoclassical economic analysis, based on rational behaviour, representative agents, and microfounded macroeconomics, where money and banking are considered as pertaining to the microeconomics of goods...

The economic crisis has seen central banks turn to some rather innovative practices in order to deal with the great recession. In particular, the Federal Reserve in the USA has made considerable use of what has been called 'quantitative easing'. This practice marked a great departure from...