Then, beginning in the summer of 2007, Planet Finance began to self-destruct in what the International Monetary Fund soon acknowledged to be “the largest financial shock since the Great Depression.” Did the crisis of 2007–8 happen because American companies had gotten worse at designing new products? Had the pace of technological innovation or productivity growth [...]

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It feels like the summer of 1931. The world’s two biggest financial institutions have had a heart attack. The global currency system is breaking down. The policy doctrines that got us into this mess are bankrupt. No world leader seems able to discern the problem, let alone forge a solution.
The International Monetary Fund has abdicated [...]

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Policies That Spawn Economic Inequality Rather Than Free Trade Could Bring about an Economic Crisis
These developments have raised concerns about the durability of globalization among its supporters. In April 2005, Martin Wolf of “The Financial Times” gave a lecture titled “Will Globalization Survive?” at Washington’s prestigious pro-globalization Institute for International Economics. More recently, Harvard professor [...]

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Are the BRIC countries an emerging threat?
From the article:
The concept of the BRIC countries — Brazil, Russia, India and China — was coined five years ago in a research paper from the Goldman Sachs investment bank.
This week, reality takes over from theory as the foreign ministers of the BRIC countries hold their first formal meeting [...]

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