Abstract

ROLO, José Manuel. The lords of the crisis. Economia Global e Gestão [online]. 2009, vol.14, n.2, pp.65-80. ISSN 0873-7444.

The financial global crisis is the result of the adoption and implementation by the USA, in the last thirty years, of a liberal economic policy that bet in the markets deregulation. Within the framework of a benign macroeconomic context, the Administration took to much time to identify the formation of an enormous housing bubble whose burst, was the cause of an unprecedent credit crunch, that originated a tremendous global financial crisis and a world recession, the greatest since the 1930s. Up to now, the strong and sometimes incoherent reactions to the crisis gave results that lie far behind the expectations.

Keywords : Financial Oligarchies; Housing Bubble in the USA; International Financial Crisis; Global Economic Recession.

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