| dc.contributor.author | Korten, David | |
| dc.date.accessioned | 2011-04-05T14:49:16Z | |
| dc.date.available | 2011-04-05T14:49:16Z | |
| dc.date.issued | 2011 | en_US |
| dc.identifier.uri | https://hdl.handle.net/10535/7169 | |
| dc.description.abstract | "Most discussion of the financial crisis focuses on the details and misses the big picture. First, much of the money was tied up in the Wall Street casino rather than facilitating productive activity in the real economy and was simply pumping up a phantom wealth bubble. Second, virtually every dollar in the system was borrowed, because in our money system, banks create money by lending it into existence. When this debt is used to inflate financial bubbles and support Ponzi schemes, eventual default is inevitable." | en_US |
| dc.language | English | en_US |
| dc.subject | financial crisis | en_US |
| dc.subject | economics | en_US |
| dc.title | A System Designed to Crash | en_US |
| dc.type | Journal Article | en_US |
| dc.type.published | published | en_US |
| dc.type.methodology | Case Study | en_US |
| dc.subject.sector | Social Organization | en_US |
| dc.identifier.citationjournal | Yes! Magazine | en_US |
| dc.identifier.citationmonth | March | en_US |
| Files | Size | Format | View |
|---|---|---|---|
| a system designed to crash.pdf | 59.12Kb |
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