Financial Crises

    Credit-financed markets are inherently unstable. Inevitably, the pattern of payment promises doesn't align with actual ability to pay. What happens then depends on institutions, regulations and management. Today, the credit system is global, and so also is the prospect of financial instability.

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    The Consequences of Money-Manager Capitalism

    In the wake of World War II, much of the western world, particularly the United States, adopted a new form of capitalism called “managerial welfare-state capitalism.” Watch the video

    Brexit and the European Union: One Year On

    Oct 10, 2017 | 04:00—05:30

    China’s International Economic Strategy

    Nov 21, 2017 | 04:00—05:30

    Financial Markets Have Taken Over the Economy. To Prevent Another Crisis, They Must Be Brought to Heel.

    Banks have long had undue influence in society. But with the rapid expansion of a financial sector that transforms all debts and assets into tradable commodities, we are faced with something far worse: financial markets with an only abstract, inflated, and destabilizing relationship with the real economy. To prevent another crisis, finance must be domesticated and turned into a useful servant of society.  Read more