The Public Debt Burden

Mohamed Rabie ()

Chapter Chapter 8 in Saving Capitalism and Democracy, 2013, pp 131-152 from Palgrave Macmillan

Abstract: Abstract The near collapse of the international financial system in September 2008, which was preceded by a deep mortgage crisis a year earlier, highlighted the desperate need for economic, political, social, and cultural change around the world. The two economic and financial crises have proved that the model of economic and financial management based on the philosophy of self-regulating free markets is not just inefficient but also dangerous. Today, tens of millions of workers are still without jobs in the West, and the negative consequences of the Great Recession have affected the lives of hundreds of millions of people around the world, leaving many without hope. As a result, free markets and globalization have lost the confidence of billions of people worldwide, renewing the old cry for a new international economic order.

Keywords: Interest Rate; International Monetary Fund; Public Debt; Budget Deficit; Great Recession (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-32131-2_9

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DOI: 10.1057/9781137321312_9

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