Wednesday, February 11, 2009
Betsy Bowman & Cliff DuRand
Globalization has tied the countries of the world more closely together with trade and investment through giant transnational corporations. It has also promoted the financialization of capitalism, with billions of dollars of highly speculative financial transactions taking place daily. Consequently, the financial crisis originating in the mortgage market in the U.S. quickly spreads around the world and becomes a global crisis. The speakers discuss how globalization has operated over the last 30 years and the crisis it faces today.