OscailtOn the crisisHow are we to describe the events that have convulsed the global economy over the last three years? Most economic commentators agree that there was a financial crisis, which gave rise to a recession, but that swift governmental action to bail out financial corporations and "stimulate" the economy averted the threat of a full-scale depression. Some economists do not expect full economic bloom for another year or two, while almost all agree that even an improved economy will be a "jobless recovery," but the consensus view, at least for the moment, is that the worst is behind us. But, with whatever variations, the basic idea is that the root cause of the world's economic troubles was the collapse of the American finance industry, brought on by unparalleled financial risk-taking, stimulated by the fantastic profits achieved by this sector in the 1990s and helped along by lax governmental regulation. [http://www.anarkismo.net/article/22048]2024-03-28T18:17:33+08:00Anarkismoanarkismoeditors@lists.riseup.nethttp://www.anarkismo.net/atomfullposts?story_id=22047http://www.anarkismo.net/graphics/feedlogo.gif