The US credit boom has been identified as one of the causes of the global financial crisis and the resulting debt overhang is seen as the primary reason for the weak economic recovery. Most of the existing literature links the credit boom to the emergence of the shadow banking system. This paper...

This paper examines the causes and consequences of the current global financial crisis. It largely relies on the work of Hyman Minsky, although analyses by John Kenneth Galbraith and Thorstein Veblen of the causes of the 1930s collapse are used to show similarities between the two crises. K.W....

This paper examines the causes and consequences of the current global financial crisis. It largely relies on the work of Hyman Minsky, although analyses by John Kenneth Galbraith and Thorstein Veblen of the causes of the 1930s collapse are used to show similarities between the two crises. K.W....

In the midst of the worst economic crisis since the Great Depression, policy makers in the U. S. and in other nations have reduced interest rates, expanded central bank balance sheets, increased deficits to levels generally not seen since World War II, and begun seriously rethinking financial...

The Legal Tender Act of 1862 offers a blueprint solution to our current economic crisis. The U.S. Government issued its own currency rather then relying on banks. This allowed the North to finance and win the civil war while keeping the economy solvent. The same solution can be used today to...

Much has been written on the impact of the global financial crisis on Europe, Asia and the Americas but only little on the Arab states. This article makes an early attempt to take stock of recent developments in the Arab world and offers a systematic approach to disentangle the various...

Global current account imbalances have been at the forefront of policy debates over the past few years. Many observers have recently singled them out as a key factor contributing to the global financial crisis. Current account surpluses in several emerging market economies are said to have...

The European Union crisis responses and the Efficient Capital Markets Hypothesis (ECMH): The hypothesis that capital markets naturally function in an efficient way - possibly one of the widest accepted dogmas of contemporary liberalism - has for many years encouraged politicians and regulators...

Many commentators have argued that if the Federal Reserve had followed a stricter monetary policy earlier this decade when the housing bubble was forming, and if Congress had not deregulated banking but had imposed tighter financial standards, the housing boom and bust - and the subsequent...

This is a contribution that will appear in the forthcoming book "In the Realm of Corona Normativities", edited by Prof. Werner Gephart, Käte Hamburger Center. The paper advances an interpretation of the EU political impasse about how to deal with the COVID-19 emergency by shifting Agamben's...