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Globalization

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    Making the World's Poor Pay: The Economic Crisis and the Global South Adam Hanieh November 25, 2008

    The current global economic crisis has all the earmarks of an epoch-defining event. Mainstream economists-not usually known for their exaggerated language-now openly employ phrases like "systemic meltdown" and "peering into the abyss." On October 29, for example, Martin Wolf, one of the top financial commentators of the Financial Times, warned that the crisis portends "mass bankruptcy," "soaring unemployment," and a "catastrophe" that threatens "the legitimacy of the open market economy itself....The danger remains huge and time is short."

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