Foreword

The two crises that struck in the early years of this century —the global economic and financial crisis (2008-2009) and the eurozone crisis (2009-2013)— have been the worst since the Great Depression of the 1930s in terms of their intensity, economic and social impacts and duration. These crises and their fallout are further evidence not only of the inability of the vast majority of public and private institutions and academics to foresee crises, identify unsustainable imbalances and warn of risks inherent in the financial sector, but also of the major drawbacks of a single predominant school of thought on economics and development and the resulting macroeconomic and financial policies.

Related Subject(s): Economic and Social Development