The 2007 Financial Crisis: Facts, Causes and Future Scenarios (La Crisi 2007-?: Fatti, Ragioni E Possibili Conseguenze)
MoFiR Working Paper No. 27
25 Pages Posted: 4 Jul 2009 Last revised: 6 Jul 2009
Date Written: July 2, 2009
This paper provides an interpretation of the current financial crisis reviewing a broad and expanding literature. The different causes of the crisis are pointed out and the severity of the ongoing recession is compared with past experiences. The intensity and the global scale of the crisis are disclosing some weaknesses of the capitalist economy. The crisis has roots in some failures of the market economy, but also in other structural transformation of our society with are less related with economics and more with cultural factors.
Note: Downloadable document is in Italian.
Keywords: Crisi finanziaria, Disuguaglianze, Mutui subrime
JEL Classification: E44, G20, G21
Suggested Citation: Suggested Citation