Abstract
The economic crisis is deep and structural. We must end the cycle of excessive financialization of our economies that began at the end of the eighties, without going into recession. For 30 years now, the economies of developed countries have shown diminishing returns, with the exception of market players who have benefited from ever increasing and exceptional returns. We are now aware that they involved high risks and, more serious still, they compromised sustainable economic development, due to the consubstantial instability of their nature. Market volatility and high debt levels amongst States, households and businesses went hand in hand in our economies which abused leverage, starting with public authorities, to the detriment of potential growth and true competitiveness.
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© 2012 Springer-Verlag France, Paris
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Jouyet, JP. (2012). For a Political View of Financial Regulation. In: Schuman Report on Europe. Springer, Paris. https://doi.org/10.1007/978-2-8178-0319-7_7
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DOI: https://doi.org/10.1007/978-2-8178-0319-7_7
Publisher Name: Springer, Paris
Print ISBN: 978-2-8178-0318-0
Online ISBN: 978-2-8178-0319-7
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