The first great recession of the 21st century : competing explanations The 2008 10 financial crisis and the global recession it created is a complex phenomenon that warrants detailed examination. The various essays in this book utilise several alternative paradigms to provide a plausible explanation and a credible cure. Great detail is given to this important analysis from different theoretical perspectives presenting a clearer understanding of what went wrong and expounding misinterpretations of current theories and practices.