The article discusses the economic difficulties from which the industrialized nations have been suffering for the past years giving special regard to the controversy as to what concept of economic policy should be adopted in order to overcome the present problems.

Should central banks intervene in currency markets? In theory, within a flexible system, central banks should leave the process of determining appropriate exchange rates to the currency markets. In practice, however, central banks have frequently intervened to 'manage' the exchange rates...

In recent weeks, fears of a worldwide economic recession have become widespread because more and more symptoms appear that resemble those at the start of the great depression of 1929. However, wrong conclusions may be drawn from similar symptoms unless basic development trends as well as the...

While bringing unprecedented prosperity to post-war Japan, her "economic miracle" at the same time led to greater vulnerability owing to a much higher degree of dependency on raw material imports and outlets for export goods. This was brought home to the Japanese by events in the early 1970’s....

The island's rapid industrialisation over the past decade and its development as the main trade and financial centre of South-East Asia, supported by a phenomenal growth in tourism, constitute yet another Asian economic miracle.