Global Crisis: Consequences and Solution Possibilities

Global Crisis: Consequences and Solution Possibilities

YAVUZ, Arif

In this paper, the reasons and solutions of the 2008 global economic crisis are discussed. In the first part, a comparision of 2008 global crisis with 1929 economic crisis, the effects of each and also the differences are explained. The champions and the losers of the current crisis are interpretted. Also, the estimated duration and the expected end time of the crisis are discussed. In the second part, the effects of the crisis to the Global Economy and to some of the countries are stated. The expected effects can be summarised as, “losing of confidence in global market”, “having negative prospects”, “decreasing of the foreign trade”, “shrinking of the national incomes” ,“shrinking of demand and consumption”, “increasing of unemployment”. In the last part, some solutions for negative effects of global crisis are offered. A world economic story is stated and suggested a new International Money Currency. Restrictions for the virtual Money is recommended and also some new rules on international trade and international finance system are offered.

Conference or Workshop Item
PeerReviewed

2009-06

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