Although there have been numerous studies of the causes and consequences of the Great Financial Crisis of 2007-2010 in the US and abroad, many of these were undertaken only for a small number of countries and before the financial and economic effects were fully realized and before various governmental policy responses were decided upon and actually implemented. This book aims to fill these voids by providing a more thorough assessment now that the worst events and the regulatory reforms are sufficiently behind us and much more information about these developments is available. It reviews and analyzes the causes and consequences of and the regulatory responses to the Great Financial Crisis, particularly from a public policy viewpoint. In the process, it explores such intriguing questions as: What caused the crisis? How did the crisis differ across countries? What is the outlook for another crisis, and when? This is a must read for those who are trying to find answers to these questions.

The 2008-10 financial crisis and the global recession it created is a complex phenomenon that warrants detailed examination. The various essays in the book utilise several alternative paradigms to provide a plausible explanation and a credible cure. This book provides this important analysis in great detail and from different theoretical perspectives, presenting a clearer understanding of what went wrong and expounding misinterpretations of current theories and practices. Thirteen insightful chapters by eminent scholars investigate the background of the crisis and draw lessons for economic theory and policy. They largely illustrate that the roots of the recession lie in the financial sector which, over the past few decades, has expanded considerably in terms of both size and complexity. They show that financial innovation has decoupled the real and financial sectors - not always to the benefit of economic stability - and argue that financial markets should be regulated more astutely in order to reinforce transparency and accountability. The book concludes that economics as a science should give proper weight to financial variables and integrate them into its models.

"...Artfully exposes the diverse roots of the crisis and explains how and why US and EU regulators failed to stop its spread." --Edward J. Kanf., Professor of Finance at Boston College.

The International Monetary Fund (IMF) is the institution designed to support global trade and economic growth by helping to maintain stability in the international financial system. Originally created to finance short-term balance of payments deficits during the Bretton Woods Era of gold/dollar fixed exchange rates (1944--1971), in the current world where flexible exchange rates dominate in the industrial economics, it has focused on developing countries where ever larger financial crises have erupted. The book provides a basic understanding of its mission and operations, and how they may have evolved. A comprehensive bibliography is included with easy access by subject, author and title indexes.

Identify and understand the primary issues facing mankind.

This book looks at the major challenges of the future. Packed with the latest information and scientific understanding, it traverses a rich tapestry of crucial issues, threats and choices confronting humanity and proposes a new start basd on four broad contracts: social, natural, cultural and ethical. To problems with global dimensions correspond global solutions. The culture of violence must become a culture of peace. The choice is stark: either a 21st century with a human face or the grimacing mask of a 'Brave New World'.