Even if advanced economies were not touched directly, their financial systems were deeply implicated. And the impact on entire continents in the emerging world – economically, and by way of consequence in social and human terms – was profound.
1  Prominent examples of critiques of the existing macroeconomic literature include: P. Krugman (2009), “How did economists get it so wrong?” New York Times (2 September); and W.H. Buiter (2009), “The unfortunate uselessness of most “state-of-the-art” academic monetary economics” Financial Times (3 March).