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

Micheal Hudson ()

No 8010, Ensayos de Economía from Universidad Nacional de Colombia Sede Medellín

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.

Keywords: Increasing returns; compound rate of interest (search for similar items in EconPapers)
JEL-codes: E31 E44 G10 (search for similar items in EconPapers)
Pages: 20
Date: 2009-05-31
New Economics Papers: this item is included in nep-hme, nep-hpe and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:col:000418:008010

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