This article analyzes the global causes of the contemporary crisis and the possibilities to eliminate the most acute problems that have generated this crisis. It analyzes both the negative role of the world financial flows and their important positive functions including the 'insurance' of...

The 19th century saw the explosive growth of a gap in per capita income between the First and Third World that has become known as the Great Divergence. In the twentieth century, the Great Divergence continued until the early 1970s, then in the late 1980s it was replaced by the Great Convergence...