World Economics

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Title: The World Financial Crisis: New economy, globalisation and old-fashioned philosophy
Author: F. Gerard Adams
Published: March 2009
Pages: 45-58
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The world financial crisis of 2008 is a consequence of new financial technologies, new accounting methods and new international linkages. These developments have come at a time when governments have returned to an old-fashioned free market philosophy. This paper links the systemic financial/economic crisis of 2008 to the new economy developments, globalisation and policy philosophy perspectives of recent decades. It raises the question of how to re-establish confidence once traditional thinking has been questioned.

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