Looking beyond the Euro Area Sovereign Debt Crisis
Dailami, Mansoor. Three years into the euro area sovereign debt crisis, investors continue to shun periphery government bonds, European banks are under severe funding pressures in both the dollar and euro private term markets, and the euro area is facing an anemic growth outlook. On the face of it, the scenario portends gloom. But […]
A Look at the Global One Percent
Meltzer, Allan. While the Occupy Wall Street movement may be waning, the perception of growing income inequality in America is not. For those on the left, the widening gap between the top 1% of earners and the remaining 99% is proof that American capitalism is unjust and should be traded in for an economic model […]
The Future of Capitalism: How to Cope With Market Failures?
Lamy, Pascal. Dramatically higher income inequality. Unsustainably high unemployment. A financial system unmoored from its macroeconomic foundations. Repairing these three failures, writes WTO Director-General Pascal Lamy, is essential to the future of capitalism and the market economy. This requires putting an end to the underinvestment in education and stronger domestic safety nets. Πηγή: The […]