|The financial crisis that started in the US has quickly turned into a global recession. The financial difficulties of banks have spread to the real economy. Market economy faces its largest difficulties since the great depression of the 1930’s.
The unfolding of the financial crisis has changes the main stream of economic thought. The free market has faced its limits and strong action to tackle a depression is expected of governments. There is also a lively debate on the need to improve transparency and regulation of0 markets to prevent new crises.
The aim of the project on the implications of the financial crises and the cures needed, is to develop new ideas for the domestic debate on the development of global financial structures and to create a forum for dialogue between economists, political and labour market leaders and citizens. The project is implemented in open minded fashion, within a framework of alternative and progressive economic thinking.
The project seeks to enable a visible participation in the international debate on the financial crisis and to develop proposals for the work on international financial structures within the Socialist International, lead by Nobel Prize winning economist Joseph Stiglitz.
Furthermore, the project aim to produce materials and promote debate that will increase the knowledge and understanding of workers on the functioning of modern market economy and the risks involved.
Futher information by project coordinator Antti Alaja,