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The world economy is currently in the throes of a global economic crisis reminiscent of the great depressions of the 1930s and the 1870s. As back then, the crisis has exposed the major structural imbalances in financial and credit markets in addition to global trade forcing many governments, developed and developing, to impose debilitating austerity measures that are exacerbating the structural weaknesses that caused the crisis in the first place.

This volume offers historical insights into the origins of the contemporary crisis as well as detailed analyses of the financial...

Emergent debates suggest that the world economy has entered a phase which will transform the development 'equation' in varied and diverse ways. This edited volume highlights the implications of these changes for the developing world, and considers the prospects for 'development' for the majority of people in the developing world.