Global Economy: New Trends

A.C. Prabhakar

Journal of Applied Finance & Banking, 2013, vol. 3, issue 4, 13

Abstract: The current global economic and financial crises led by free markets economies; that clearly indicates the collapse of Milton-Friedman‘s philosophy of Chicago university which was based on Adam Smith‘s classical economic theory, and policies of Thatcher- Reagan‘ free - market model; as dominated thinking for 30 years has been discredited. The systemic crisis of capitalism is looming right after. The pursuit of the model based on the growth of the real economy and of the consumption attached to it, has become, for the first time in history a real threat for the future of humankind and the planet.

Date: 2013
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