Jonathan Schlefer, The Assumptions Economists Make (Cambridge, Mass., and London: Belknap Press of Harvard University Press, 2012)

As we approach the sixth year of grave financial and economic uncertainty, capitalism keeps calm and carries on. The ideology’s most influential temples and high priests (the central banks, ratings agencies, regulators, media and universities, the traders, bankers, politicians, journalists and academics) neither prophesied nor avoided the 2007-08 economic crisis.[1] Nevertheless, they continue preaching the same creed and using the same economic models to drive ‘post-crisis’ policies.[2] It seems the believers have not questioned their beliefs, at any fundamental level.