Radical Origins to Economic Crises

The book introduces the groundbreaking works of Spanish economist Germán Bernácer to an English-speaking audience for the first time. As a macro economist and the first director of the Bank of Spain's Research Service, Bernácer both influenced and critiqued Keynesian theory. He explored the inherent crises in speculative markets, such as property and energy, arguing that they create unearned income and drain resources from productive industries. The text illustrates how these patterns have recurred throughout history, notably in the financial crises of the 20th and 21st centuries.