For Tiding Over the Global Crisis Unhurt
2 Pages Posted: 4 Jun 2009
Date Written: June 3, 2009
The current global crisis of capitalism originated from the financial meltdown in the United States of America (USA). The idea that the economies needed no regulation was abandoned after the great depression of 1930s. It was Keynes who pointed out the need for regulations to keep the economies in good health. The US policy-makers had, in recent years, deliberately abandoned regulations on the slogan of unbridled market economy. They allowed companies to go for profits without any checks until the economy came to verge of collapse. The US economic meltdown, in no time, adversely affected the other developed economies due to their close links with the US economy. Before long, it became a global economic crisis.
Keywords: Global Financial Crisis 2009
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