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State Capacity, Economic Crisis and Economic Reform: Implications for Sustainability

State Capacity, Economic Crisis and Economic Reform: Implications for Sustainability

Sustainability Seminar recorded on March 2, 2011, delivered by Georgetown University Professor George Shambaugh. Like the economic crises in Korea in 1997 and Argentina in 2001, U.S. and European responses to the 2008-2011 financial crises are less about what particular strategy is most likely to succeed or who specifically will be bailed out, than they are about the capacity of national governments to overhaul their economies and restore confidence in the global markets. Whether adopting neo-Keynesian, monetarist, or neo-liberal reforms or whether rescuing Wall Street or auto makers, state capacity is essential. Enhanced capacity increases a nation-state's ability to manage the market and has a significant positive effect on the economy by decreasing uncertainty; thus enhancing consumer... Show More
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