Looking over the cliff: globalizing inequalities and the challenge for a global social theory
Powell, Jason
Powell, Jason
Advisors
Editors
Other Contributors
Affiliation
EPub Date
Publication Date
2010-07
Submitted Date
Collections
Other Titles
Abstract
Every nation-state across all corners of the globe has been experiencing the most formidable structural, economic climate since the 1930s. One of the central causes of global financial instability has been transnational financial institutions and lack of regulation for consumer populations in different nation-states. It is not just financial institutions but also nation-states. For example, in May 2010, the Greek government has turned to Europe to help stimulate its economy (with 100 billion euros loan); otherwise, Greece would be at risk for bankruptcy which would then have ripple effects for other EU economies linked through economic harmonization, such as EU country memberships of the Euro – which would dramatically lose its value in the global economic market if the Greek economy was not propelled by support from other EU countries. President Obama has recognized the potential instability that Greece could potentially have on the US economy; and hence, this raises questions about the wider global economy. Whilst these problems require a global response by the international community and political leaders, they also require a response and engagement by social scientists.
Citation
Powell, J. (2010). Looking over the cliff: globalizing inequalities and the challenge for a global social theory. Fast Capitalism, 7(1).
Publisher
Journal
Fast Capitalism
Research Unit
DOI
PubMed ID
PubMed Central ID
Type
Article
Language
en
Description
Series/Report no.
ISSN
1930-014X