Radical Origins to Economic Crises

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Focusing on the pioneering theories of Germán Bernácer, this book introduces his influential works to an English-speaking audience for the first time. As a macro economist and the Bank of Spain's first research director, Bernácer critiqued Keynesian theory while analyzing the cyclical nature of economic crises linked to speculative markets. He argued that these markets lead to unearned income and financial capital misallocation, draining resources from productive industries. The author draws parallels between Bernácer's insights and historical financial crises, highlighting their recurring nature.