 Well, answering the question of what's wrong with economics in 60 seconds forces me to choose one area that matters most and I'll choose there the fact that neoclassical economic theory has convinced itself that money doesn't matter. So though most people might think economists are experts on money, in fact their models of the economy ignore both money and debt. Private debt is left out of their thinking completely and they're wrong about the creation process of money and they're wrong about the importance of debt. So the creation process of money they give us is exogenously determined by the government injecting money and the money multiplier process working after that to create the total level of credit money and that's why they blame the Federal Reserve for causing the 1930s crisis. The real process of money creation as Schumpeter put it decades ago is that banks create money out of nothing and as a research director for the Federal Reserve put it in the late 60s, banks create credit creating deposits in the process and look for the reserves later. So therefore the increasing debt finances investment and speculation, the first playing a good role in capitalism, the second being destructive and because neoclassical economists ignore both they've let the level of debt go from where it was in America at the end of the Second World War 50% of GDP to where it peaked 300% of GDP and the process of deleveraging from that which we're now massively into, that's what's the fundamental cause of the financial crisis. So economics by ignoring the most important issue in capitalism which is the growth of debt that finances the growth of the system have led us into the greatest financial crisis in human history.