This paper summarizes “The Center and the Periphery: The Globalization of Financial Shocks," which presents a new approach to measure and understand systemic financial turbulences. We defined two measures of systemic disturbances: weak- and strong-form globalization and created the...

The global scope and depth of the 2007-2009 crisis is unprecedented in the post World War II period. As such, the most relevant comparison benchmark is the Great Depression, or the Great Contraction as dubbed by Friedman and Schwartz (1963). We highlight some of the similarities between these...

This paper and appendices report an ongoing study of the interrelationships between technology, income distribution and other socio-economic issues in a long term global context. The present paper therefore describes the work in progress on a project to be completed by July 1980. The aim here is...