Global Economic Crisis Essays

Global Economic Crisis Essays-88
This important collection of essays brings together the main findings of ILO research since the start of the global financial and economic crisis in 2008.With contributions from diverse research disciplines, the volume provides new perspectives on employment and income-led growth and the role of regulation, and makes policy recommendations for the future.

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International Institute for Labour Studies (IILS) Regulating for Decent Work.

New directions in labour market regulation From the Great Recession to Labour Market Recovery.

An exploration of the roots of the current credit crisis in the process of financialisation, where profit-making occurs increasingly through financial channels rather than through trade and commodity production.

This process and the explosion of private financial flows globally helped the United States preserve and establish its pivotal place at the centre of the international financial markets after the collapse of the Bretton Woods arrangements in 1973.

On the contrary, it fosters a climate that encourages them.

Global Economic Crisis Essays Scholarship Essays 2013

While the United States' emphasis on reviving banks and public spending are both important, neither addresses directly the main source of deflation, which is that the global imbalances are no longer being recycled effectively.

The basic story of the financial crisis is familiar enough. Thanks to the deep integration of global banking, securities, and funding markets, the contagion quickly spread to major financial institutions around the world.

By late 2008, banks in Belgium, France, Germany, Ireland, Latvia, the Netherlands, Portugal, Russia, Spain, South Korea, the United Kingdom, and the United States were all facing existential crises.

“September and October of 2008 was the worst financial crisis in global history, including the Great Depression.” Ben Bernanke, then the chair of the U. Federal Reserve, made this remarkable claim in November 2009, just one year after the meltdown.

Looking back today, a decade after the crisis, there is every reason to agree with Bernanke’s assessment: 2008 should serve as a warning of the scale and speed with which global financial crises can unfold in the twenty-first century. and European real estate markets; as housing prices plunged from California to Ireland, homeowners fell behind on their mortgage payments, and lenders soon began to feel the heat.


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