The International Economic Crisis and the Crisis of Economics

摘要

The foregoing analysis clearly shows the main conclusion that there is a correlation between the economic crisis and the dominant theory of economic science at the present time. Economic science, though, clearly did not cause the crisis. It was caused by speculation and irresponsible policies. However, in many cases, economic hypotheses and many well-respected economists contributed to the development of policies and practices, which caused the property bubble, the collapse of the financial markets and recession that followed.