World futures and the global financial crisis: narratives that define and scenarios that create

Sohail Inayatullah
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Sohail Inayatullah: Universidad de Tamkang, Taiwán. Universidad de Sunshine Coast, Australia

EKONOMIAZ. Revista vasca de Economía, 2011, vol. 76, issue 01, 64-91

Abstract: In this paper using causal layered analysis, the underlying stories of the global financial crisis (gfc) are explored. The seven narratives presented are the GFC as: 1) a mortgage crisis, 2) a global banking crisis, 3) as part of the natural creative destruction cycle of the capitalist system, 4) a geopolitical shift from the USA to Chindia, 5) part of God’s plan, 6) a symptom of the inequity of the world capitalist system, and 7) a window of opportunity to a transformed greener partnership world. From analysis, the essay moves to five scenarios of the futures of the world system. These are: 1) business as usual, 2) the rise of «Chindia», 3) the quick and long road to sustainability, 4) the end game of capitalism, and 5) a new era.

Keywords: global financial crisis; alternative futures; causal layered análisis; futures studies; narratives (search for similar items in EconPapers)
JEL-codes: F47 G28 G38 (search for similar items in EconPapers)
Date: 2011
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