This article by Paul Stieglitz in the FT shows how assumptions about the workings of the global economy proved to be fatally flawed.
The link takes you to the article.
http://www.ft.com/cms/s/d5108f90-abc2-11df-9f02-00144feabdc0,dwp_uuid=73adc504-2ffa-11da-ba9f-00000e2511c8,print=yes.html
Ian Geary, 10/09/2010