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The World after the Crisis

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  • Tiberiu BRÃILEAN

Abstract

World economy crisis will outlast. It has not reached the bottom and no efficient policy solution could be seen yet. It is a crisis of global and virtual economy. It is more than a stage of the Kondratiev cycle, it is a structural crisis that tends to turn into a systemic one. But what will the world look like after it? Important changes will come out, changes that the world has not imagined till recently: market fundamentalism will decrease and state capitalism will become the dominant system; financial background will change, financial sector will be reduced and regulated, both nationally and internationally; despite the decrease of global demand, energy, food and commodities cost will rise; a greater but still insufficient attention will be given to the environmental issues; protectionism of all forms will increase; poverty will become endemic in many parts of the world, globalization will persist, as Earth is no longer flat; a technological tsunami is being born in front of us; we will be witnessing the emergence of the feminine principle. Change will become common everywhere, but first of all, we need to embody the change we want for the world.

Suggested Citation

  • Tiberiu BRÃILEAN, 2009. "The World after the Crisis," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 3, pages 181-187, May.
  • Handle: RePEc:aic:revebs:y:2009:i:3:braileant
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    1. Franklin Allen & Douglas Gale, 2000. "Financial Contagion," Journal of Political Economy, University of Chicago Press, vol. 108(1), pages 1-33, February.
    2. Allen, Franklin & Carletti, Elena, 2008. "Mark-to-market accounting and liquidity pricing," Journal of Accounting and Economics, Elsevier, vol. 45(2-3), pages 358-378, August.
    3. Carmen M. Reinhart & Graciela L. Kaminsky, 1999. "The Twin Crises: The Causes of Banking and Balance-of-Payments Problems," American Economic Review, American Economic Association, vol. 89(3), pages 473-500, June.
    4. Caprio, Gerard Jr. & Klingebiel, Daniela, 1996. "Bank insolvencies : cross-country experience," Policy Research Working Paper Series 1620, The World Bank.
    5. Xavier Freixas & Bruno Parigi & Jean-Charles Rochet, 2000. "Systemic risk, interbank relations, and liquidity provision by the central bank," Proceedings, Federal Reserve Bank of Cleveland, pages 611-640.
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