Sunday, February 5, 2012

Papadimitriou and Wray on a renewed global financial crisis


Dimitri Papadimitriou and Randall Wray deliver a second installment of their joint assessment of the risks that a renewed global financial crisis might be triggered by events in Europe or the United States.  In their latest one-pager they move past disputes over etiology and lay out their solutions for both sides of the pond:  addressing the basic flaws in the setup of the European Monetary Union (“the EMU is like a United States without a Treasury or a fully functioning Federal Reserve”) and outlining how to place the US financial system and “real” economy on more solid foundations.
Read it at Multiplier Effect
How to Delay the Next Financial Meltdown
by Michael Stephens

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