This paper examines how certain new structural factors have contributed to the latest great financial crisis and world recession of 2008-09. We focus on three of these structural factors: (i) the incorporation of highly populated countries into the growth process; (ii) The increasing scarcity of...

Three new structural factors underlie the latest great world crisis: (1) the incorporation of highly populated countries into the growth process; (2) The increasing scarcity of the environment and certain natural resources; (3) the dramatic concentration of wealth and income in the advanced...