Predicting the financial crash
A handful of economists predicted the 2008 financial crash, the worst financial meltdown since the Great Depression. But their warnings were ignored. Two of them talk to Witness.
In the early 2000s, a handful of experts warned that the world was sleep-walking towards a financial crisis. Among them were South-African born political economist Ann Pettifor and the IMF's chief economist at the time, Raghu Rajan. But their warnings were ignored, and instead in 2008 the world plunged into the worst financial crash since the Great Depression, whose shadow still hangs over our politics. Louise Hidalgo has been talking to the Cassandras of the crash.
Picture: Traders at the New York Stock Exchange watch as the Dow Jones share index plunges following the collapse of Lehman Brothers in September 2008 (Credit: Spencer Platt/Getty Images)