Boom, Bust, and Recovery in the World Economy
This global economic crisis will go down in history as Greenspan’s Folly, made possible by easy money and financial deregulation from the mid-1990’s until today. But, whatever the pain felt in the deregulated Anglo-Saxon-style economies, a global depression, or even recession, is not inevitable, given room for growth in many other parts of the world.
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NEW YORK – This global economic crisis will go down in history as Greenspan’s Folly. This is a crisis made mainly by the United States Federal Reserve Board during the period of easy money and financial deregulation from the mid-1990’s until today.