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In the 1950s, Hannah Arendt wrote that the modern world faced a crisis of authority because authority had 'vanished … from the modern world' (Hannah Arendt. 'What Is Authority?' Between Past and Future. Penguin: New York,1968. P. 91). Most … scholars take Arendt to be lamenting the loss of a republican and conservative notion of authority. In this essay, I agree that …
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This study identifies five distinctive stages of the current global financial crisis: the meltdown of the subprime mortgage market; spillovers into broader credit market; the liquidity crisis epitomized by the fallout of Northern Rock, Bear Stearns and Lehman Brothers with counterparty risk...
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This study argues that the severity of the current global financial crisis is strongly influenced by changeable allocations of the global savings. This process is named a wandering asset bubbleʺ. Since its original outbreak induced by the demise of the subprime mortgage market and the...
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This study identifies five distinctive stages of the current global financial crisis: the meltdown of the subprime mortgage market, spillovers into broader credit market, the liquidity crisis epitomized by the fallout of Northern Rock, Bear Stearns with contagion effects on other financial...
Persistent link: https://www.econbiz.de/10003790529
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The global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both originate in the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served as a transmission belt, both during the boom as during...
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