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Global Financial Turbulence in the Euro Area

Polish Perspective

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Edited By Alojzy Nowak

For many years Alojzy Z. Nowak has been observing the major trends in the global economy. In this volume he presents articles by different authors who analyse the impact of the current crisis in the financialisation of the world economy. The contributions also discuss the ethical failures in the most recent financial upheavals and take into account the Polish perspective of these matters. There is a special focus on the question of whether Poland should join the Euro area and how the Euro area can find solutions to its problems.
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Crises and World Economy Financialisation

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Introduction

If we observe the world today from economic and social points of view, what seems quite striking is, most of all, vast disproportions in terms of income. A couple of years ago, at an international business academy colleagues from Harvard University published the findings of their studies carried out by universities of the US East Coast concerning trends occurring in the contemporary world. This is well illustrated by the following Figure 4.1:

Figure 4.1: Comparative growth rates of distributive shares.

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