Lesser Evil

Steven Rosefielde and Daniel Quinn Mills

Chapter 16 in Global Economic Turmoil and the Public Good, 2015, pp 163-171 from World Scientific Publishing Co. Pte. Ltd.

Abstract: There is very little room for fundamental disagreement about the state of the global economy and potential dangers such as rampant inflation, financial crises and global repolarization. We accept the Economic Policy Institute (EPI)/Summers–Krugman characterization of the core problems confronting America (US) and the European Union (EU): The prospect of a blighted future of substandard economic growth, stagnation or worse, exacerbated by abnormally high unemployment and underemployment, widening income and wealth disparities between corporate executives and workers (including the middle class), and deteriorating conditions for Black and Hispanic retirees. Likewise, we accept obvious trends toward cold war repolarization and increased armed insurrection in the Middle East, Africa and parts of Asia…

Keywords: Global Economic Crisis; Global Financial Crisis; Crisis Prevention; Global Economic Sclerosis; European Union; Monetary Union; Fiscal Union; United States; China; India; Japan; Monetary Policy; Keynesianism; Central Banking; Fiscal Policy (search for similar items in EconPapers)
Date: 2015
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