TITLE

RETHINKING THE GROUND RULES FOR AN OPEN WORLD ECONOMY

AUTHOR(S)
Muldoon, Robert D.
PUB. DATE
June 1983
SOURCE
Foreign Affairs;Summer83, Vol. 61 Issue 4, p1078
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article presents the author's opinion on the recovery of the U.S. economy. The economic recovery and the successful rescheduling of the largest debtor countries have averted the danger of a collapse into global depression, financial crises and wholesale disruption of world trade flows. I admire the speed, flexibility and the pragmatism with which the U.S. Federal Reserve, U.S. Treasury, International Monetary Fund, Bank for International Settlements and major international banks put together the rescheduling. Initiating the necessary process of rethinking the ground rules for an open world economy is important to give national economies flexibility to adjust to change. Failure to address structural issues of debt, protectionism, exchange rate volatility and effective macroeconomic policy coordination will seriously constrain recovery. There must be a systematic process instituted to look at significant changes and adjustments in the structure of trade, payments, development efforts and exchange rates. The examination of trade and payments that I am proposing could, without too much violence to reality, be described as a first attempt to work out how we might deal with interdependence.
ACCESSION #
4853955

 

Related Articles

  • QUANTITATIVE EASING: REFLECTIONS ON PRACTICE AND THEORY. Yingxi Lu // World Review of Political Economy;Fall2013, Vol. 4 Issue 3, p341 

    After exhausting all the conventional monetary policies, the major Western economies, in an attempt to deal with the long-term economic recession and stimulate an economic revival, have had to implement nonconventional quantitative easing. Although the quantitative easing policy has not been...

  • INTERNATIONAL AND REGIONAL ECONOMIC DEVELOPMENTS.  // Central Bank of Trinidad & Tobago Annual Economic Survey;2009, p61 

    The article provides discussions on the international economic recovery in most of the developed nations which had been supported by expansionary fiscal and monetary policies as well as financial systems. It also discusses the economic slowdown which affects the region primarily through a...

  • SVETSKA EKONOMSKA KRIZA I EKONOMSKA TEORIJA. Vasiljevic, Branko // Singidunum Scientific Review / Singidunum Revija;2011, Vol. 8 Issue 2, p5 

    Financial and economic crisis has had the impact on the financial markets and the real economy, as well as on the contemporary economic theory. The fundamental causes of the crisis were the lack or the distortion of the real investment opportunities in the real economy. The crisis could be...

  • Neuer Protektionismus - Gefahren f�r den Freihandel. Gr�schl, Jasmin // ifo Schnelldienst;8/17/2012, Vol. 65 Issue 15, p35 

    In Zeiten des wirtschaftlichen Abschwungs greifen immer mehr Staaten zu weitreichenden pro-tektionistischen Ma�nahmen. Global Trade Alert spricht von einem Debakel und warnt, dass in den letzten Jahren weit mehr Handelsbarrieren eingef�hrt wurden als angenommen. Die Folgen des...

  • The study of contagious paces of financial crises. Chen, Jo-Hui; Chen, Chih-Sean // Quality & Quantity;Oct2012, Vol. 46 Issue 6, p1825 

    This study deals with the emergence of different regional crises and the comparison of early warning indicators to check for the accuracy of pace of exits. It was found that trade factors and monetary conditions clearly play a pivotal role in affecting the probability of existing time to...

  • Worlds apart. Boswell, Clay // ICIS Chemical Business;4/6/2009, Vol. 275 Issue 14, p22 

    The article analyzes the economies of India and China and how these countries will emerge after the global economic crisis. The author observes that the difference in growth rates have reduced considerably over the past decade. It is stated that China has an authoritarian government and India...

  • RESTRICTION OF CREDIT AFTER THE CRISIS OR A DIFFERENT ALLOCATION OF RESOURCES? THE ITALIAN CASE. Nicola, Mattoscio; Emiliano, Colantonio; Iacopo, Odoardi; Antonella, Perrucci // Annals of the University of Oradea, Economic Science Series;Jul2013, Vol. 22 Issue 1, p481 

    The granting of credit, whose excessive diffusion was one of the causes of the economic and financial crisis of 2007, has suffered profound changes during the following period of economic recession. The granting of credit to households and businesses has been strongly influenced by the effects...

  • The Shape Of Recovery: V Or L? Maggs, John // National Journal;4/18/2009, p8 

    The article looks at the current debate on what comes next after the global economic crisis. The current debate reflects the earlier one on how to respond to the recession, which transcended the familiar ideological conflicts about economic policy. Economist have argued for the past 30 or 40...

  • A summit of few achievements. Murray, John // Mortgage Strategy;4/13/2009, p13 

    The author reflects on the implication of $1.1 trillion world economy enhancement as proposed by The Group of Twenty (G20) summit in Great Britain on April 2, 2009. He points out that the problems on the country's finance industry should not be underestimated. However, he considers these...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics