Publications

The world finds itself in the midst of a major economic crisis, unprecedented in scale since the Great Depression of 1929. The financial upheaval of 2008 promptly spilled over to the real economy, generating a worldwide recession of frightening proportions. In 2009 the world economy will likely see a steep increase in unemployment, a reduction of world trade and investment, the massive shrinking of capital markets, and so on. These are the immediate manifestations of the crisis, yet we should also focus on its long term implications.