Seeds Of Its Own Destruction, Essay

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" America 'absorbed' 70 of the world's prosperity as oil supplies grew, and personal debt skyrocketed while inequities between rich and poor grew more chasm-like than ever before. Wolf says that to address the systemic problems, the governments of the major economic world powers will need to separate commercial from investment banking and prevent financial institutions from growing too big to fail. The American government will also have to assume more control over the economy in general, as the difference between monetary and fiscal policy as been effectively collapsed, now that interest rates are effectively zero. Enthusiasm...

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"Seeds of its Own Destruction." Financial Times. March 8, 2009. http://www.ft.com/cms/s/0/c6c5bd36-0c0c-11de-b87d-0000779fd2ac.html

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Wolf, Martin. "Seeds of its Own Destruction." Financial Times. March 8, 2009. http://www.ft.com/cms/s/0/c6c5bd36-0c0c-11de-b87d-0000779fd2ac.html


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