Perth Indymedia

It's been ten years since the US investment bank Lehman Brothers collapsed. History records Lehman's fall as the event which catalysed the Great Recession of 2008-9. Various theories have been postulated as to the cause of that recession, but the overextension of the American property market, in the form of sub-prime mortgages, and the uncontrolled growth of so-called financial instruments invented by Wall St bankers, are seen as the primary factors. Economist and author Michael Roberts argues there were much deeper reasons for the Great Recession. He addressed those underlying causes in discussion with Alex Whisson.