Jorge Moromisato
Published: 2011
Total Pages: 282
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Even though the Great Recession officially ended more than two years ago, in 2009, most developed economies are still suffering from near double-digits unemployment. Millions of people in the U.S. and Europe have lost their houses and their jobs. Who is blame for such a tragedy? As John Skidelsky, Keynes's biographer, puts it, it is not the bankers, the credit-rating agencies, the central bankers, the regulators, or government, to be blamed, but a failure of ideas: "the present crisis is, to a large extent, the fruits of the intellectual failure of the economic profession." They are quite right. All the suffering and lives ruined by the present and past crises have been caused by erroneous economic ideas. It was erroneous beliefs that prompted our political leaders to enact all the policies that pushed our federal government into a dangerous level of fiscal deficit and fiscal debt. Erroneous ideas compelled government to get deeper into debt in order to bail out Wall Street and the big banks, while failing to help homeowners facing foreclosure.. Erroneous beliefs are preventing the government from enacting necessary measures to help the economy recover. Erroneous economic beliefs are responsible for the increase in the poverty rate and the decline of the middle class. In fact, behind any social and economic problem you can think of, there is a plethora of erroneous beliefs inflicted on us by the supposed experts on the matter, the professional economists. The only way to really solve the serious problems affecting the U.S. and the world today is nothing short of a complete reformation of the economic discipline. That is the purpose of the 100 theses presented here. You may not agree with some of these theses but, at the very least, your assumptions will be challenged. You can be assured that your view of the economy, indeed of the world, will never be the same after you have read the 100 theses."