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Keywords:

  • efficient markets hypothesis;
  • financial crisis;
  • macroeconomics
  • E32;
  • E44;
  • G14

This article examines six widely-held doctrines concerning economic theory and economic policy that have been refuted, or at least rendered highly problematic by the global financial crisis, namely: (i) the efficient markets hypothesis; (ii) the Great Moderation; (iii) central bank independence; (iv) trickle down; (v) the case for privatization; and (vi) individual retirement accounts.