Home           Contact us           FAQs           
   Journal Page   |   Aims & Scope   |   Author Guideline   |   Editorial Board   |   Search
2011 (Vol. 3, Issue: 2)
Article Information:

The Current Global Economic Crisis: Gleaning from History

Ettah B. Essien
Corresponding Author:  Ettah B. Essien 

Key words:  Economic crisis, government, intervention, liberalization, Washington Consensus, ,
Vol. 3 , (2): 69-75
Submitted Accepted Published
2011 April, 05 2011 June, 02 2011 August, 15

The study seeks to demonstrate how the knowledge of economic thought could help in explaining and managing the current global economic crisis. The current economic meltdown has affected nations of the world by differing degrees but adversely. Many analysts argue that the adoption of the Washington Consensusfinancial liberalization-gave vent to the crisis. The Washington Consensus discourages government involvement but promotes the operation of the market forces in economic and financial operations. However, the financial and economic devastation caused by the current economic crisis has prompted governments of various nations across the world to intervene through massive stimulus plans in order to rescue their economies from the meltdown situation. This suggests that the role of government in the economy is pertinent, and that the market forces are no substitutes but complement. This, therefore, suggests a fair balance of the government and the market forces in the operations of the economy.
Abstract PDF HTML
  Cite this Reference:
Ettah B. Essien, 2011. The Current Global Economic Crisis: Gleaning from History.  Current Research Journal of Economic Theory, 3(2): 69-75.
    Advertise with us
ISSN (Online):  2042-485X
ISSN (Print):   2042-4841
Submit Manuscript
   Current Information
   Sales & Services
   Contact Information
  Executive Managing Editor
  Email: admin@maxwellsci.com
  Publishing Editor
  Email: support@maxwellsci.com
  Account Manager
  Email: faisalm@maxwellsci.com
  Journal Editor
  Email: admin@maxwellsci.com
  Press Department
  Email: press@maxwellsci.com
Home  |  Contact us  |  About us  |  Privacy Policy
Copyright © 2009. MAXWELL Science Publication, a division of MAXWELLl Scientific Organization. All rights reserved