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World economy set for another major downturn
- Despite the trillions of dollars handed out to the banks and financial institutions over the past three years by governments around the world, nothing has been resolved.
- Who Will Fix the Economy?
Nick Beams, World Socialist Website
Submitted by Evergreene Digest Contributing Editor John Stoltenberg
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The World Bank has issued a grim forecast on the outlook for the world economy, with the potential for a crisis worse than that which followed the collapse of Lehman Brothers in September 2008. The warning was contained in the Bank’s Global Economic Prospects report, issued yesterday.
These predictions were backed by a United Nations report. It said the world economy was “teetering on the brink of another major downturn,” with output growth slowing “considerably” in 2011 and only “anaemic growth” expected in 2012 and 2013.
Related:
Who Will Fix the Economy? Henry Mintzberg, Nation of Change
- On the ground, there are two kinds of enterprises: those that rely on exploration, and those that rely on exploitation. Every economy has both, but a healthy one favors the explorers. This fosters the sense of enterprise that made the United States such an economic powerhouse.
- Confronting the Wealth Divide is the Key to Fixing the World Economy
- Remaking America: From Poverty to Prosperity
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