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The global political economy is likely to remain in crisis for at least another three to five years, with high unemployment and slow growth. The character of this period makes a grim cyclical crisis worse by adding to it both a financial component and a deeper...
The economic crisis that has shaken the world may have started in Wall Street, but it has been made much worse by the actions of both the European institutions and European member states.Much of the so-called debt crisis was caused not by states spending too much, but...
While North America and Europe were hard hit, China has survived the international crisis of 2008, thanks to huge public spending, a low interest rate and consumption subsidies. China’s growth rate reached 9% in 2009 and 10.4% in 2010; in its wake, China dragged Asia...
“Italy is now mathematically beyond the point of no return.” –Barclays Capital The situation in Europe gets more depressing by the day. Policymakers have waited too long and now events are beyond their control. The only way to avert a disorderly breakup and another...
Invited paper to be read at the “Symposium on Re-Publicness” Sponsored by the Chamber of Electrical Engineers. Ankara Turkey, December 9 – 10, 2011IntroductionThe relation of information technology (IT) and more specifically the internet, to politics is a central...
ABSTRACT: In Greece and other countries of the Eurozone there are a number of misconceptions about the debt crisis. I argue against seven of such misconceptions (or, myths) about the effects of default, the primary cause of the crisis, the likely effects of an exit...
The G20 is no more legitimate than its progenitor the G7 (Canada, France, Germany, Italy, Japan, UK and USA). It was launched by the industrialized countries three years ago when they were beginning to feel the effects of the biggest economic crisis since the 1930’s....
As the leaders of the eurozone struggle to contain Europe’s financial crisis, big question marks are appearing both over whether the euro will actually survive as a single currency and over whether the euro crisis may split the European Union (EU) politically into two...
“THE CRISIS OF 2007-2009, coming from the U.S. core of the globalized system, the crisis that threatens the weak links of the euro, and the third crisis that started to affect Eastern Europe in 2009 have a major common point. Whether we are talking about the United...