The current crisis is like an earthquake for the theoretical foundations of economic policies, which have guided governments and central banks for the last few decades. The efficient market hypothesis and its application to labor markets –“natural rate theory”- dominated interpretations of...

This article argues that the recent financial crisis was caused largely by the long-term problem of the current world economy lacking a sustainable path of development. Limits to growth – expressed principally through rises in the price of oil and other commodities – created a crisis for the...

This paper reports on a study to provide insights into the magnitude of the shocks associated with the recent global economic crisis in macroeconomic terms in South Africa, the country’s capacity to withstand or cushion these shocks, and the extent of fragility in terms of poverty levels and...

Argentina hit world news headlines in 2002 due to the largest debt-default in history and a sudden economic collapse reminiscent of economic statistics from the Great Depression. In this article, we focus on other consequences of the crisis that are not so obvious, but that may linger for...

The current crisis, while of a global nature, has affected national labor markets to a varying extent. While some countries have experienced a steep increase in unemployment, employment in other developed economies has not fallen in parallel with a significant decline in GDP. Our analysis shows...

To analyse the impact of the economic crisis on the Czech nonprofit sector is a complex task, for which there are not sufficient data available to date. In this paper I limit myself to a probe into the level of giving as an important indicator of the support for Czech NPOs. I use several...

The paper focuses on the responses of Czech left social movements to the coming of economic crisis to the country. It seeks to answer two questions. The first one is whether the coming of economic crisis has activated two processes of social movement transnationalization that take place on the...

One of key outcomes of open economy macroeconomics refers to a crucial importance of an investment-saving relation affecting a current account determination. However, despite a relative diversity in exchange rate regimes in European transition economies, there is still a substantial potential to...

The chapter deals with the influence of the economic crisis on the fulfillment of one of the five targets identified in new European Union strategy called Europe 2020. It points out the fact, that research, development and innovation activities are way out of the economic crisis. There is...