Anomaly Hypothesis: How the Great Recession Demonstrates the Necessity for a Paradigm Shift in Economics and Finance Theory e-bog

Paradigm Shifts are an integral part of the scientific process. The shifts however, are not only applicable to the scientific world. The thesis underlying "e;The Anomaly Hypothesis"e; supposes that the processes behind scientific paradigms (from inception to revolution) are applicable to other disciplines. From Economics and Finance, to Society and the Arts, all fields are subject to the framework developed by Thomas Kuhn in his notable "e;Structure of Scientific Revolutions"e;. Through a breakdown of Kuhn's model and an account of the history leading up to the 2008 Global Financial Crisis, the thesis will demonstrate that our current Economic and Financial models are riddled with anomalies; anomalies miring our financial system, manifesting themselves in crises with ever increasing intensity and frequency. The anomalies point to an urgent need to revolutionize our outdated financial and economic models. Could this century bear witness to fundamental shifts within our markets, our society, and our form of governance?