Archive for July 6th, 2013

Financial crises and wars..

July 6, 2013

Well the current crisis is mostly compared to great depression. Few others compare it to the Panic of 1907 which finally led to a central bank in US and so on so forth.

Harold James draws some interesting comparisons to today’s times. 2014 will mark the 100th anniversary of first world war and Prof. James points to some prior financial events before the war. The main idea is how¬†financial globalization can become the equivalent of a national arms race, thereby increasing the vulnerability of the international order.

Read the comments as well disproving what Prof. James says. History and its might…


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