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Why the " Miracle of Compound Interest" leads to financial crises?

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  • Micheal Hudson

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    Abstract

    In 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.

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    File URL: http://humanas.medellin.unal.edu.co/sites/default/files/ede/pdf/ede_34/ede_34_01_hudson_michael_-_why_miracle_compound_interest_leads_financial_crises.pdf
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    Bibliographic Info

    Paper provided by UNIVERSIDAD NACIONAL DE COLOMBIA SEDE MEDELLIN in its series ENSAYOS DE ECONOMÍA with number 008010.

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    Length: 20
    Date of creation: 31 May 2009
    Date of revision:
    Handle: RePEc:col:000418:008010

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    Related research

    Keywords: Increasing returns; compound rate of interest;

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