To read this 5700 word feature article, pubished June-July 2016 in the European Financial Review of London, go to Dr. Rasmus’s website, kyklosproductions, at the following url:
http://www.kyklosproductions.com/articles.html
ARTICLE ABSTRACT
Dr. Jack Rasmus explains why mainstream economists typically fail to understand financial forces and variables and how they impact the real business cycle and long term growth. Their failure results in repeated mis-forecasting of major shifts in the global economy. The reasons lie in their training biases, insufficient general economic models, academic institutional biases, and other factors, it is argued. The failure to integrated financial variables properly leads to an over-emphasis on interest rates, central bank monetary policies, and traditional views of money and credit of declining relevance in 21st century global economy.
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