Turbulence in the economy : between history and theory

This year's lecture was entitled : " Turbulences dans l'économie, entre histoire et théories ". The first two sessions, devoted to the theories challenged by the crisis, looked back at the unfolding of the financial and then economic crisis, which is said to have begun in 2008. Returning to the American real estate boom linked to the " subprime ", we recalled the logic of securitization, which transforms mortgages into complex assets known as MBS(Mortgage Based Securities), and the ways in which these assets are disseminated via the international financial system. A whole series of questions were raised and put into perspective. Why did the local fire, the collapse of the US real estate bubble, turn into a huge forest fire after the collapse of Lehman Brothers ? Should we congratulate ourselves on the eclecticism of the therapies adopted ? Or, more ambitiously, to what extent is this crisis of globalized finance also a crisis of globalization ? These questions have remained in the background of all subsequent reflection on economic theories and the crisis.