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1 page/≈275 words
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Harvard
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Social Sciences
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English (U.S.)
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To What Extent Does The Recent Global Financial Crisis Constitute A Paradigm Crisis? (Essay Sample)

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To What Extent Does The Recent Global Financial Crisis Constitute A Paradigm Crisis?
The essay critically look to what extent does the recent global financial crisis constitute a paradigm crisis. From 1930s, there have been two occasions of global financial crisis (Keynesianism and neoliberalism), the most recent one being between 2007 and 2008. In his journal, Wade (2008) noted that there are differences between the recent and the past global financial crisis in terms of causes of the crunch, repercussions, government responses and credit and credibility which then brings crisis on model of the same. He holds the opinion that there is need therefore to rethink about global financial crisis and give room to variety of standards rules.
Compared to the earlier global economic crisis which favored embedded liberalis...
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