ABSTRACT
A mix of policies and levers may have to be used to stabilize financial markets, and/or to boost economic growth. Economic revival in the Unites States after the Great Depression in the late 1930s was not due to monetary policy, but rather to governmental spending that ‘re-invented’ the structure of the economy. Structural reforms that reduce bureaucratic burdens and instil confidence among economic agents are then called for: to encourage innovative entrepreneurs and to entice companies to invest, banks to lend, and households to spend. A significant portion of the world population lives in desperate conditions – economically, socially, and/or politically. Level-playing economic relations can open business opportunities that contribute to higher standards of living and improved quality of life. Globalization with the unimpeded flow of capital allows for the boom-bust rollercoaster spreading rapidly across markets. Progress in the ethical domains has not paralleled advances in the exact sciences or in technology.
