Paul Davidson challenges the thirty-year dominance of the free-market system over Keynesianism. He shows how the basic foundation of the Chicago School underlying Greenspan's policy decisions, as well as the likes of Friedman, Lucas, Scholes and Merton, led to the errors that propelled America into the worst economic crisis since the Great Depression.
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PAUL DAVIDSON is Holly Chair of Excellence in Political Economy at the University of Tennessee, Knoxville, USA. He has previously held Professorships at the University of Pennsylvania and Rutgers University. He is Editor of the Journal of Post Keynesian Economics, a former member of Brookings Economics Panel, and is the author, co-author or editor of twenty-two books and more than 200 articles. His books include Money and the Real World, Post Keynesian Macroeconomic Theory, International Money and the Real World: Economics for a Civilized Society, and Financial Markets, Money and the Real World.
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