Dedicated to the reform of economics
[UNDER CONSTRUCTION] For the past two centuries, the world's leading economists have modeled capitalism as if banks, debt and money don't exist, and as if this dynamic, evolutionary system is in fact characterized by stability rather than change. A new, foundational book develops an explicitly monetary, dynamic approach to analyzing capitalism and explains why capitalism has periodic financial crises. This book lays out a philosophy of economics that emphasizes the creative role of instability in capitalism, as well as its potential for crises. The book breaks decisively with the conventional economics and articulates a new, empirically-based economics designed to fill the gaping holes in traditional economic theories (as detailed in Professor Keen’s prior book, Debunking Economics (2001, 2011), a tour de force of economic history and theory, the most comprehensive and devastating critique of conventional economics written to date.