Alternative Visions - What’s Wrong with Economists: Part 3 - 01/02/14

Dr. Jack Rasmus follows up to parts 1 and 2 in previous weeks on this topic, presenting his own views on the causes of the economic crisis that erupted in 2007-08, its evolution of slow, stop-go recovery since 2009, and its likely trajectory in coming years.  Providing an overview of his 2010 book, ‘Epic Recession: Prelude to Global Depression’, and his follow up 2012 book, ‘Obama’s Economy’, he rejects the analysis of mainstream economics, both its ‘hybrid Keynesian’ and ‘Retro Classicalist’ perspectives, explaining the need for an entirely new conceptual apparatus to better understand the recent crisis and its continuing global evolution.  Looking at depressions in the 1800s in the US, and the often ignored financial crash of 1907-08 and ‘epic’ recession of 1908-13, Rasmus explains his own  ‘3rd way’ theoretical and historical economic analysis and how it differs from mainstream economics (Hybrids and Retros) in explaining the origins and evolution of the current crisis.  He concludes with an overview of his forthcoming works, ‘What’s Wrong With Economists’, to appear in late 2014 and the planned sequel, ‘Transitions to Global Depression’, scheduled for 2015.