¿Qué fue de los mercados financieros eficientes? La economía, los economistas y el origen de la crisis

Abstract

The aim of this paper is to analyse the relationship between the economists, the economic thought and the current crisis. The first part of the paper investigates the responsibility of the methods and the hypothesis used in mainstream Economics. The study tries to show that profession’s insistence on contrasting formalistic models disregards the key elements driving real markets, including sometimes financial activity. The second part analyses the special influence of modern financial theory on deregulation and financial innovation. This influence has been crucial to those processes, which culminate in the current economic turmoil.