TRN410H1 Lecture Notes - Lecture 12: European Debt Crisis, Cairo University, United States Dollar
30 Apr 2016
School
Department
Course
Professor
Document Summary
Russia is increasingly assertive as a regional hegemon. End of its western orientation it had in the 1990s. Emergence of new popular movements in the middle east. Near-repeat of the great depression of 1930s. Culmination of policies that were rooted in the reagan-thatcher era. 1970s period of move away from keynesians models to laissez-faire models. Get the government out of the government processes. Bill clinton era is the watermark of the neo-liberal policies. 1930-70 profits in financial grew at same rate as economy, but 1980-2005 financial sector grows 8x faster than the economy. Financial sector is greater part of gdp. More and more incentive for people focus on the financial sector. 40% of profits came from the financial sector. By 2007 banking salaries doubled than that others were winning in other sectors. Shift the rich getting super rich. 50% of students wanted to go in the financial sector. Finance should be to facilitate the economy .
