Beyond Debt Woes, A Wider Crisis of Globalization?
In recent decades, the world economy thrived on globally-driven growth and tightening interconnections among nations. In the process, nation states have lost control of the internet, financial markets, exploitation of natural resources and other global forces. “In the short term, that leaves policymakers looking impotent in the face of fast-moving markets and other uncontrolled and perhaps uncontrollable systems – undermining their authority and potentially helping fuel a wider backlash and social unrest,” writes Peter Apps for Reuters. Unsustainable imbalances contribute to growing inequality within and among nations. In the longer term, both the extreme left and right seek controls that push nations toward protectionism. In wealthy and emerging economies alike, leaders have ignored the true costs of their policies, shoving them toward the future. In every nation, at every level of government, policymakers pursue short-term relief measures and avoid tough choices to end unsustainable systems that compound inequality and frustration. – YaleGlobal
Beyond Debt Woes, A Wider Crisis of Globalization?
Policymakers aim for short-term relief and quick fixes, adding to imbalances, unsustainable systems, and growing anger and loss of trust
Monday, August 8, 2011
http://www.reuters.com/article/2011/08/08/us-analysis-debt-crisis-idUSTRE77726Z2...
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