March 2012

Lessons from the great recession: Need for a new paradigm

  The ongoing sovereign debt crisis in Europe and U.S. is challenging the conventional wisdom and is creating fears of a double dip recession in 2012. Massive levels of debt and consumption beyond means and speedy financial innovation with lax regulation has put major economies in a deep hole. Monetary policy with ease in rates had been ineffective, to say the least, in generating new jobs in the last few years...

Author(s):   Salman Ahmed Shaikh