The Global Debt Crisis and Its Socioeconomic Implications Creating C
This fascinating and ambitious book proposes a new strategy ("the Ramo Plan") to tackle the current global socioeconomic crisis. Issuing a direct challenge to the status quo, the author lays out a bold set of policies to overcome the West-East divide and
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THE GLOBAL DEBT CRISIS AND ITS SOCIOECONOMIC IMPLICATIONS Creating Conditions for a Sustainable, Peaceful, and Just World
The Global Debt Crisis and Its Socioeconomic Implications
Mohamed Rabie
The Global Debt Crisis and Its Socioeconomic Implications Creating Conditions for a Sustainable, Peaceful, and Just World
Mohamed Rabie Georgetown University Washington, District of Columbia USA
ISBN 978-3-319-66214-5 ISBN 978-3-319-66215-2 (eBook) https://doi.org/10.1007/978-3-319-66215-2 Library of Congress Control Number: 2017950559 © The Editor(s) (if applicable) and The Author(s) 2018 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover image © Maurusasdf / Getty Images Cover design by Samantha Johnson Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
To my daughters Aseel and Haneen and son Kareem, who enriched my life and made me proud of their life accomplishments
PREFACE
The near collapse of the international banking system in September 2008, and the Great Recession that followed, have exposed the seriousness of the financial and economic problems facing Europe, the United States and many other countries. They also revealed that these problems are due not to economic and political mismanagement only, but also to European and American loss of economic competitiveness and lack of business ethics by many financial institutions and insurance and mortgage companies. Since the roots of these problems are deep, addressing them requires thoughtful thinking, sound economic and financial reforms, political changes in policy and structure, and, above all, sociocultural transformation. Owing to the financial crisis, many states in the world were forced to bail out tr
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