Abstract
In the ‘go-go’ years which followed the 1994 crisis of debt instruments, Alan Greenspan, then chairman of the Federal Reserve, coined the term ‘New Economy’. This he defined as defying the laws of gravity by producing more and more wealth, practically forever. We now know that such talk was a chimera, while the tandem of bubbles it produced in 2000 and 2007 were real. Their origin was not difficult to detect:
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© 2011 Dimitris N. Chorafas
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Chorafas, D.N. (2011). The World’s New Normal Economic System. In: Sovereign Debt Crisis. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230307124_1
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DOI: https://doi.org/10.1057/9780230307124_1
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-33456-8
Online ISBN: 978-0-230-30712-4
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