> A natural question to ask is whether the financial infrastructure we have today has been well-engineered to be robust to these remarkably regular shocks. Of

> A natural question to ask is whether the financial infrastructure we have today has been well-engineered to be robust to these remarkably regular shocks. Of course it isn't. If you go back in history even further, the pattern continues. That was the reason why Keynes' General Theory was developed. But people still refuse to believe that the instability is internal to the (capitalist) system. The economic theory needs to move away from equilibrium towards fully dynamic models, for example those that Steve Keen is developing.