Bank Crisis in the Past 100 Years

40 years of the 20th century, Paris, the young teachers graduated from the most famous mathematicians Debreu happened to read was the French economist Maurice Allais book. The book highlighted the "Lausanne School" in the last century, founder of the work of Walras, Marshall's partial equilibrium which is different from the "general equilibrium theory." Walras recognized that we need to comprehensively study the economic, thought the interaction between different markets. Debreu impressed by this work. Debreu decided to switched to study economics from scratch under the door Alai. About the same time, the Arrow also taught at Stanford began to study the general equilibrium problem. And Debreu, he almost had the problem to clear, just need the expert assistance of a proficient in mathematics. He Allais help, so finding the best partner Debreu. The early 50s of last century, Debreu to the United States, and gradually began to "econometrics" and other British and American academic journals published articles emerging. His "atomic" (or "axiom-style") research methods is impressive. In 1954, the history of economics important day has arrived. Debreu and Arrow cooperation in the third year of "econometrics" magazine published an article entitled "The Existence of a competitive economy balanced" paper. Topic of this paper is very impressive, they announced mathematically proved the existence of general equilibrium. That is, the article on page 26 of this logically proved Adam Smith "invisible hand" of the conjecture, which is the foundation of neoclassical economics package. Since then, economic theory can stand up and be regarded as scientific, while the "general equilibrium theory," also known as Arrow - Debreu system, almost all mainstream economists today are still working in the system. Debreu last century called the golden 50's for 10 years, he is given every article associated with the core axioms of economics proved easily prove a theorem of another balanced. In 1959, Debreu decided to write the "price theory" to conclude that more than