Olafur's bad economics's now in english

Written by Ashwin Rattan Wednesday, 12 October 2011 14:09
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Olafur is a young Icelandic chap, currently studying for his PhD in economics at the University of Exeter.

He is the author of a forthcoming Searching Finance book Bad Economics explaining the causes of Iceland's economic collapse and assessing where next...

Up until now Olafur has been blogging only in his native icelandic, however posts will now be appearing in english as well.

To follow Olafur, check out:

Here's some more about Olafur (his own words)

'' Some people would call me young. When I was even younger, I was studying BSc economics at the University of Iceland. I graduated in May 2008. My final dissertation was a 25k word dissertation about the comparisons between the Icelandic banks and the Scandinavians. My final conclusion: despite some possible liquidity problems, the Icelandic banks seemed fine in comparison with their Nordic peers. Six months later I, and many other people, was proven awesomely wrong. What I had learned in my undergrad studies crashed in front of me and left me with a feeling of being completely lost. Something wasn't right.

I left to England in September 2008 to study masters in Money & Banking at the University of Exeter. I continued directly into a PhD in economics, emphasising financial instability and foreign direct investment. During the academic year 2009-2010 I read Kindleberger's Manias, Panic, and Crashes. Everything remotely connected to the topic of financial crises ended on my night table. When I read Cooper's The Origin of Financial Crises I came across the name of Minsky. Naturally, I ended up reading Minsky's Stabilising an Unstable Economy. That was a complete eye-opener and from there I realised that something seriously wrong was missing from my undergraduate courses. I drowned myself in books and papers by authors such as Minsky, Keynes, Schumpeter and Keen. ''

Last modified on Wednesday, 12 October 2011 17:42

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