Global Financial Crisis: A Classic ‘Ponzi’ Affair?
Published By: Institute for Studies in Industrial Development | Published Date: December, 01 , 2008This paper seeks to identify the roots of the financial crisis in US which is now has spread to the rest of the global economy. These include the dominance of uncertainty as a force in financial markets (usually ignored in mainstream economics) and the use of financial derivatives (largely with de-regulation of financial markets). These provide the ideal setting for flows of speculator finance which finally degenerate to a state of unsustainable ponzi finance
Author(s): Sunanda Sen | Posted on: Dec 18, 2015 | Views()