User:Nick Gardner /Sandbox: Difference between revisions

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The origins of the crisis lay in our inability to cope with the
{{AccountNotLive}}
consequences of the entry into the world trading system of countries such as China, India,
==Index and Glossary==
and the former Soviet empire – in a word, globalisation. The benefits in terms of trade
There is an index to the topics dealt with in the economics articles [[Economics/Related Articles|here]], and a glossary of economic terms [[Economics/Glossary|here]].
were visible; the costs of the implied capital flows were not.
 
The new entrants adopted a strategy of expanding manufactured exports to create
See also the [[Politics/Index|'''index to the politics articles ''']].
employment. High rates of saving depressed domestic demand. So substantial trade
 
surpluses were required to keep total demand in line with supply. Equally, the countries
[[User:Nick_Gardner#Methodology|methodology]]
importing those manufactured goods ran trade deficits and required low saving rates to
 
maintain balance in their economies. Everyone seemed to gain. High-saving countries
{|align="right" cellpadding="10" style="background-color:#FFFFCC; width:40%; border: 1px solid #aaa; margin:20px; font-size: 92%;"
created employment, and low-saving countries enjoyed faster consumption growth as
|"''The European Union is something ...
cheap imports meant that living standards rose by more than the increase in production –
very precious, not only for us in Europe, but also for the rest of the world. Because the European Union is, in fact, the result of a project for peace that brought together nations emerging from the ruins of the Second World War. It was the European Union that united them in peace around the values of respect for human dignity, freedom, democracy, justice, rule of law and respect for human rights.''"
worth around half a percentage point a year in the United Kingdom. These were the
 
benefits of greater trade.
:Merci Olsson, of Nobel Med, congratulating  President Barroso on the award of The Nobel Peace Prize t the European Union, 12 October 2012.
But the pattern of poor countries saving a lot and rich countries borrowing was not
|}
sustainable. The consequences of our inability to cope with these capital flows did not show

Latest revision as of 04:28, 22 November 2023


The account of this former contributor was not re-activated after the server upgrade of March 2022.


Index and Glossary

There is an index to the topics dealt with in the economics articles here, and a glossary of economic terms here.

See also the index to the politics articles .

methodology

"The European Union is something ... 
very precious, not only for us in Europe, but also for the rest of the world. Because the European Union is, in fact, the result of a project for peace that brought together nations emerging from the ruins of the Second World War. It was the European Union that united them in peace around the values of respect for human dignity, freedom, democracy, justice, rule of law and respect for human rights."
Merci Olsson, of Nobel Med, congratulating President Barroso on the award of The Nobel Peace Prize t the European Union, 12 October 2012.
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