Why capitalism fails

The man who saw the meltdown coming had another troubling insight: it will happen again

By Stephen Mihm

Globe Correspondent / September 13, 2009

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Since the global financial system started unraveling in dramatic fashion two years ago, distinguished economists have suffered a crisis of their own. Ivy League professors who had trumpeted the dawn of a new era of stability have scrambled to explain how, exactly, the worst financial crisis since the Great Depression had ambushed their entire profession. (Full article: 2526 words)