Francisco Louçã

Jorge Costa

A guerra infinita

Michael Ash

Many accounts of the financial crisis focus on renegade activity in marginal financial sectors. This book argues that far from this pervading view the shadow finance that initiated the crisis is tightly networked with bank-based finance. It traces these networks to explain how the now decade-long crisis took shape.

Financial Disorder and the System that Caused Crisis

Shadow Networks

Chris Freeman

How can we best understand the impact of revolutionary technologies on the business cycle, the economy, and society? Why is economics meaningless without history and without an understanding of institutional and technical change? Does the 'new economy' mean the 'end of history'?an we best understand the impact of revolutionary technologies on business organization and the business cycle? These are some of the questions addressed in this authoritative analysis of modern economic growth from the Industrial Revolution to the 'New Economy' of today. Chris Freeman has been one of the foremost researchers on innovation for a long time and his colleague Francisco Louçã is an outstanding historian of economic theory and an analyst of econometric models and methods. Together they chart the history of five technological revolutions: water-powered mechanization, steam-powered mechanization, electrification, motorization, and computerization. They demonstrate the necessity to take account of politics, culture, organizational change, and entrepreneurship, as well as science and technology in the analysis of economic growth. This is an well-informed, highly topical, and persuasive study of interest across all the social sciences.

From the Industrial Revolutions to the Information Revolution

As Time Goes By

'It is difficult to summarize in a short space the extreme richness of this book, which involves arguments taken from physics, philosophy, history of science and epistemology, as well as economic thought and recent developments in econometrics. . . . Louçã's book makes for extremely interesting and useful reading: it provides a solid criticism of the foundations of neoclassical theory and constitutes the unavoidable starting point for any theoretical construction aiming to understand real societies. . . . The vast erudition of the author - who moves easily in many fields of the social and natural sciences - makes the book a mine of information and a valuable source of new ideas.' - Angelo Reati, Review of Political Economy 'This book will be a landmark in the history of economic thought. It is an extremely powerful and original critique of mainstream econometrics, based on a thorough knowledge of its historical origins and its contemporary applications. It will be essential reading for everyone involved in teaching or learning economic theory and model-building. The book also provides new insights into the work of Frisch, Keynes and Schumpeter . . . it is also a very important contribution to philosophy in the social sciences and in particular, to the development of evolutionary theory in economics. The rapid recent growth of interest in evolutionary theory means that the book will be of special interest to those concerned with these exciting new developments.' - Christopher Freeman, SPRU - Science and Technology Policy Research, University of Sussex, UK and Maastricht University, The Netherlands

Francisco Louçã

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