There are two major failings in policy interventions in the crisis in the US and Europe: the reluctance to remove the debt overhang through timely, orderly and comprehensive restructuring and the shift to fiscal austerity after an initial reflation. These have resulted in excessive reliance on...

Weighing up the costs and benefits of economic interdependence in a finance-driven world, this book argues that globalization has been oversold to the Global South, and that the South should be as selective about globalization as the North