A Time to Experiment
As the global economic crisis deepens and spreads, policymakers need to shed received wisdom and forget useless dichotomies such as “markets versus government” or “nation-state versus globalization.” The more pragmatically and creatively they act, the more quickly the world economy will recover.
CAMBRIDGE – The world economy enters 2009 with more uncertainty (and anxiety) than at any time in recent memory. Although the financial crisis appears to be contained in the United States and Europe, its full repercussions will not be clear for some time. The advanced countries are in for the worst economic downturn since the Great Depression. But how long and deep will this recession be, and how badly will it affect emerging and developing nations?
CAMBRIDGE – The world economy enters 2009 with more uncertainty (and anxiety) than at any time in recent memory. Although the financial crisis appears to be contained in the United States and Europe, its full repercussions will not be clear for some time. The advanced countries are in for the worst economic downturn since the Great Depression. But how long and deep will this recession be, and how badly will it affect emerging and developing nations?