Night Waves - Credit Crunch

Isabel Hilton and guests examine the effect of the financial crisis on the practice and theory of economics. They look at the lessons that might be learned from the failure of so many economists to predict the downturn and the philosophical issues raised by the comparisons between economic theory and material fact. Will we ever be able to trust again in our traditional systems of knowledge when so many in power and authority failed to understand the true nature of the world financial situation?