IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-0-230-23675-2_2.html
   My bibliography  Save this book chapter

Globalization: the House that Finance Built

In: The Coming First World Debt Crisis

Author

Listed:
  • Ann Pettifor

Abstract

How did we get here? How did Anglo-American economies build up the mountains of debt and the historically high deficits that now threaten to destabilize the global economy? Our international financial system was, until relatively recently, stable, equitable and fair. Lending and borrowing was under control, with high rates of saving in OECD countries. Income inequality was at its lowest. The crisis of the 1920s and 1930s had taught western societies grave lessons about the folly of allowing ‘the moneylenders to take over the temple’ — the main theme of President Franklin D. Roosevelt’s inaugural speech, in 1933 — at the height of the international financial crisis.

Suggested Citation

  • Ann Pettifor, 2006. "Globalization: the House that Finance Built," Palgrave Macmillan Books, in: The Coming First World Debt Crisis, chapter 1, pages 26-55, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-23675-2_2
    DOI: 10.1057/9780230236752_2
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-0-230-23675-2_2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.