By Gerald Epstein
How is the worldwide economic climate tormented by elevated militarization, inequality among international locations and periods, environmental degradation, and U.S. monetary decline? What are the present debates and matters? Can loose firm and govt deregulation remedy international fiscal difficulties? because the world's cognizance is concentrated at the international economic climate, 25 activist economists handle those and lots of different questions. Essays in "Creating a brand new global financial system" describe in available language such complicated themes because the overseas debt, Keynesianism, exchange coverage, immigration, and drug alternate. as well as interpreting present issues and debates, individuals additionally supply substitute suggestions on themes usually ignored in conventional economics curricula. Essays clarify improvement options and markets in Latin the US, japanese Europe, Africa, and Japan. for college kids, activists, and normal readers, this well timed assortment explains nationwide and foreign financial dilemmas that might more and more problem us within the subsequent century. writer word: Gerald Epstein is affiliate Professor of Economics on the collage of Massachusetts, Amherst, and a employees economist for the heart for well known Economics. Julie Graham is affiliate Professor of Geography on the collage of Massachusetts, Amherst, and a employees economist for the guts for well known Economics. Jessica Nembhardt makes a speciality of overseas funds, macroeconomic coverage, and improvement. She got her Ph.D. in economics from the collage of Massachusetts, Amherst.
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Extra info for Creating a New World Economy: Forces of Change & Plans for Action
Industrial policy and more public expenditure on education and research and development will make "our" corporations more competitive. Being more competitive will solve the economic problems we face. We find all of these alternatives unsatisfying. The world has changed too much to go back to the policies of the 1960s. But the world has not changed so much that nations and communities are totally helpless in the face of multinational corporations. Despite the increased internationalization of the economy, nations, citizens, and workers still have a great deal of power to affect economic and political outcomes.
But both sides of this debate accept the idea that global capitalism is the wave of the future, if not the present. Yet, despite the increasing dominance of these two ideas, the reality is far more complicated. Eastern Europe and the former Soviet Union face enormous difficulties in their transition from communism to capitalism; the continuing po'wer of Islam in many areas of the world belies the global character of capitalist ideology; in the United States, one of the main bastions of capitalism, the rise of protectionist sentiment threatens to block the ideology of globalization and free trade.
1991. The New State ofthe WorldAtlas. 4th ed. New York: Simon & Schuster. United Nations. 1991. World Economic Survey. New York: United Nations. World Bank. 1990. World Development Report 1990: Poverty. New York: Oxford University Press (for the World Bank). Worldwatch Institute. 1990. State of the World 1990. W. Norton. 1 GERALD EPSTEIN Power, Profits, and Cooperation in the Global Economy Sometimes it seems that we are on the verge of a new era. Around the globe, millions of people are moved by the power of two ascendant ideas: capitalism and globalization.