The Great Recession and the triumph of fake economics

More than a decade has passed since the first tremors of the Great Recession began to register in 2007. What started as a crisis in the American mortgage market snowballed into one of the worst economic downturns in recent history. Communities in North America, Europe, Russia, and Japan shared in the coming misery as jobs vanished, businesses closed, homelessness soared, and debt piled up. While…