More than five years down the line Venezuela had been slipping into an economic cri-sis. An economy wholly dependent on the sale of oil and no diversification of economic production is sure to face such a crisis. The fluctuation in oil prices is sure to hurt the market and the economy. To make matters worse, Venezuela now faces a political crisis with two individuals claiming themselves to be P...

The good old days probably weren’t better, but they were certainly calmer. It’s true that the recovery from the international financial crisis that began in Thailand in July 1997 was faster than most observers (myself very much included) had imagined possible. The crisis, however, was terrifying while it lasted, and its aftereffects are still being felt. Indeed, while South Korea and Malaysia h...

The economic situation in the Arab countries is due to several factors as the political crisis in a socio-economic vulnerability. Political changes are usually accompanied by a drop in production, a deterioration of macroeconomic balances, a high level of poverty, an appearance of economic corruptions and a structural increase in unemployment. In addition, the expansion of terrorism is a main i...

Following a survey of Marx and Engels’ major writings on crisis from the early 1840s to the 1860s (Section II) we set out a systematic exposition and interpretation of their theory of capitalist accumulation and its crises (Sections III VIII). Our principal objective is to show, first, how their theoretical work grew out of, and was integral to, their political struggles; second, how they came ...

The Icelandic banking crisis provides a useful example of how the global economic downturn transformed into a domestic crisis and then transformed again into an international conflict. Rather than a strict economic analysis, discussion around the economic causes and potential cures surrounding the Icelandic banking crisis have been framed in terms of ethics. The analysis shows that ethical para...

The 2008 recession resulted from the failure of financial institutions including banks, due to their uncontrolled self-indulgent financial practices leading to a severe economic crisis. Policy options to resolve the recession that has resulted from the crisis included financial sector restructuring or bail-outs on the assumption that the banks are generally moral and trustworthy organizations. ...

As the result of its centralized, exclusive economic model, Brazil has undergone a serious economic, political, and social crisis. The crisis is getting worse because the country is simultaneously undergoing extensive demographic, epidemiological, and technological changes. There is an urgent need to articulate various social groups to challenge and change the ongoing situation. A new historica...

This paper uses a new data set that better measures inflation uncertainty to investigate the effects of inflation and inflation uncertainty on economic growth. In the cross section of forty-four countries that the new data allows, inflation uncertainty has a significant negative impact on economic growth. Uncertainty performs better than inflation crisis as an explanatory variable of economic g...

The crisis of the euro area has severely tested the political authority of the European Union (EU). The crisis raises questions of normative legitimacy both because the EU is a normative order and because the construction of economic and monetary union (EMU) rested upon a theory that stressed the normative value of the depoliticization of money. However, this theory neglected the normative logi...