Study Cards on financial, usa, reduction
At a deeper level, however, the sub-prime problem in the USA, was merely a symptom of the defects and vulnerabilities of the neoliberal capitalism that had taken root in the USA and UK in particular, based on free markets and an inflated and under-regulated financial system. --> need for financial regulation.
At an even deeper level: exposed imperfections. Capitalism can be viewed as inherently unstable and crisis-prone.
- paradoxes and pitfalls of deficit reduction
- the possible end of neoliberal globalization
- major redistribution of power in the global economy
Leads to economic stagnation and soaring unemployment.
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