Abstract

In the fall of 2008, a little more than a year after the Bank for International Settlements (a Switzerland-based organization that fosters cooperation between central banks) warned that "years of loose monetary policy have fuelled a giant credit bubble, leaving us vulnerable to another 1930s slump," the combustive concoction of free market fundamentalism, corporate-dominated globalization, stagnant wages, growing inequality, greed, excessive leverage, and financial innovations such as securitization finally exploded.

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Additional Information

ISSN
1946-0910
Print ISSN
0012-3846
Pages
pp. 61-66
Launched on MUSE
2009-01-07
Open Access
No
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