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Category Archives: Economics

G20: World finance as a network of many centres

Friday, October 31, 2008

Will the G20 become the L20? The ‘Leaders 20′ would be  a regular meeting of not only Finance Ministers but Prime Ministers and Presidents who meet to discuss global problems including climate change?  There is still a long way to go, but the Toronto Globe and Mail reports that the Nov. 15 emergency meeting on [...]

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Geopolitics of Scapegoating: The Russian Bailout of Iceland’s Financial Crisis

Friday, October 10, 2008

Over the last 2 weeks, Icelandic banks were caught by the unwillingness of other banks to continue to lend capital on overnight markets. Taking advantage of liberal credit and deregulation, Icelandic banks had been amongst the most aggressive in expanding to Europe. With a small local economy, heavily leveraged expansion overseas was [...]

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Intangibles, Virtuals and Financial Markets

Saturday, September 27, 2008

Facing at least the partial nationalization of the financial system in the United States and United Kingdom, Will Hutton, a well known UK economic journalist, commented in the Guardian,
This is not the end of capitalism, as some wildly claim; there is no intellectual, social or political challenge to a market system based on respect for [...]

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This Weeks News is a Geography Lesson

Sunday, September 21, 2008

News concerning the failure, nationalization and and rescue mergers of major banks in New York and London is not coming from ‘nowhere’.  Understanding what happens next is hard if one concentrates on the media search for the next particular financial weakling to be culled (the speculation has been on Morgan Stanley, seeking a Chinese partner) [...]

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