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THE AMERICAN ECONOMIC SYSTEM – WHEN THE THERAPY LEADS TO FAILURE

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Author(s): RADU-MARCEL JOIA

Journal: Challenges of the Knowledge Society
ISSN 2068-7796

Volume: 2;
Issue: -;
Start page: 1310;
Date: 2012;
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Keywords: economic policies | political power | freedom | wealth | globalization | financial markets

ABSTRACT
The phenomenon of globalization is a subject that has made much ink to flow. The tumultuous economic life led scientists to seek explanations to the negative economic events, events that take many forms, and to whom it is a must to find a solution or even a mitigating factor. In the past years, the globalization has generated a significant development of the emergent economies, but also that of the level of the developed countries. As it is easy to notice, we are the spectators of an ever more “globalized” world which does not lack numerous risks. Starting with the inequality between the people, continuing with various social problems and ending with the “creative destruction” of some countries’ economies, an inevitable and irreversible destruction after entering into this game, the globalization phenomenon has become a threat. The globalization has opened, in the absence of economic protective policies, the way of frequent economic crises. The present crisis has taught us that the governments of the countries should play a more active role in the co-ordination of the economic policies, striving to prevent unbalances as those registered already and to avoid crises. Through this paper, we tried to make an brief analysis on the American economic system, underlying its most important aspects under the economic globalization phenomenon, starting from Joseph Stiglitz’s most recent study and showing that sometimes the therapy can lead to failure, as in the case of United States of America. We also tried to create a little debate on the financial markets fundamentalism issue, talking about the concepts of freedom, political power and wealth.
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