The Theory of Crisis and the Great Recession in Spain
This book has a dual purpose. Firstly, it analyses the concept of economic crises within economic theory, showing the various theoretical foundations and controversies amongst different schools of economic thought. Secondly, it presents an empirical analy
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The Theory of Crisis and the Great Recession in Spain
The Theory of Crisis and the Great Recession in Spain
Juan Pablo Mateo Tomé
The Theory of Crisis and the Great Recession in Spain
Juan Pablo Mateo Tomé University of Valladolid Segovia, Spain
ISBN 978-3-030-27083-4 ISBN 978-3-030-27084-1 (eBook) https://doi.org/10.1007/978-3-030-27084-1 © The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2019 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Palgrave Macmillan imprint is published by the registered company Springer Nature Switzerland AG. The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
For you, Ana Carolina Souza
Foreword: Real-World Economics as It Should Be
Juan Pablo Mateo has written a rare, and in these times possibly unique book, whose importance goes well beyond the promise of the title, because through the prism of the Spanish economy, it offers the reader an understanding of the economic malaise not just of that important European country but of Europe, and beyond Europe the industrialised world of which it is only one part. The book rises to the challenge which all those clamouring for a ‘Realworld’ approach poses, for economic thought. These include the many student protest movements that came together in the ‘Rethinking Economics’ initiative,1 demanding a break from the arid mathematical methods which failed the elementary test of any sound theory: they did not predict reality, as the financial crash of 2008 demonstrated. They also include the growing disquiet in the economics profession that led to the creation of the Real-world Economics Review,2 published by the World Economics Association with over 13,000 members, and a growing US counterpart, led by George DeMartino and Deidre McLoskey, which has crystallised in grow
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