Why the " Miracle of Compound Interest" leads to financial crises?
AbstractIn this paper I want to discuss the financial sector´s tendency to dominate, deflate and polarize economies, thwarting economic potential. Understanding these financial dynamics is essential to explain why all nations are not operating up to the technological potential toward which classical liberalism aimed, and why the world economy is polarizing, as are domestic economies even in the most advanced industrial nations.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by UNIVERSIDAD NACIONAL DE COLOMBIA SEDE MEDELLIN in its series ENSAYOS DE ECONOMÍA with number 008010.
Date of creation: 31 May 2009
Date of revision:
Contact details of provider:
Increasing returns; compound rate of interest;
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
- G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-03-12 (All new papers)
- NEP-HME-2011-03-12 (Heterodox Microeconomics)
- NEP-HPE-2011-03-12 (History & Philosophy of Economics)
- NEP-PKE-2011-03-12 (Post Keynesian Economics)
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ensayos De Economía).
If references are entirely missing, you can add them using this form.