Revise Regulation: Theory of Market Equilibrium Is Wrong
Markets are Imperfect, but Regulations are Even More so.
We are in the midst of the worst financial crisis since the 1930s. The salient feature of the crisis is that it was not caused by some external shock such as the Organization of Petroleum Exporting Countries raising the price of oil. It was generated by [...]
Globalization and the U.S. Financial System
Globalization Helped Fuel the Current Financial Crisis, and it Will Undoubtedly be Employed to Help Resolve it.
In the decades following World War II, the idea of globalization became more and more popular when describing the future of the world economy. Someday, markets for all sorts of goods and services would become integrated and the [...]
Global Financial Trouble: Causes, Cures, Responses
No doubt, Economic Historians Will Argue for Years to Come About the Causes of the Global Financial Crisis..
The global financial crisis has eclipsed Iraq, Afghanistan, North Korea, and other crises as a topic of concern — making these critical threats to global stability seem modest by comparison. Even if our perception is myopic and [...]
Debt Man Walking
Economists Know the Fatal Flaw in Our International Monetary System — But They Can’t Agree on How to Fix it.
The past few months have been a crash course in the abstract and obscure instruments and arrangements that have derailed the world’s economy. From mortgage-backed securities to credit default swaps, the international monetary system is [...]
The Global Financial System
For this month’s focus, Mosaiko.gr presents the opinions of six financial experts on how the global crisis came about and some of the ways the world will react to this shared problem.
Political scientist Mark Blyth begins by listing six events that had a role in causing the crisis. John Judis, a senior editor with [...]
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