Offers an analysis of the forces behind the economic crisis. In a series of disarmingly simple arguments, this work challenges the core principles of the economic orthodoxy, explaining why financial markets do not obey the efficient market principles described in economic textbooks but are instead inherently unstable and habitually crisis prone.

They will also learn how an obscure paper on steam engines, written in 1868, by the inventor of colour photography shows us how to avoid repeating recent monetary policy mistakes. Uniquely, "The Origin of Financial Crises" presents tangible policy proposals aimed at helping break out of the seemingly endless procession of damaging boom-bust cycles.

1. Introduction2. Efficient Markets &
Central Banks?3. Money, Banks &
Central Banks4. Stable and Unstable Markets5. Deceiving the Diligent6. On (Central Bank) Governors7. Minsky Meets Mandelbrot8. Beyond the Efficient Market Fallacy9. Concluding Remarks