Imbalances, local and global, and policy challenges in the post-crisis world

Abstract

The global financial meltdown of 2008-2009 following the housing market collapse in the USA is surely the most severe crisis in capitalism since the Great Depression of the 1930s. Many imbalances have contributed to its origin in the USA and its spread to the rest of the world.This chapter takes a look at some of the more serious imbalances, both at the local and the global level. Unless these are corrected quickly ‘free enterprise capitalism’ may experience a recurrence of the disaster in the near future. © Springer India 2016.