Global Imbalances and the Financial Crisis

This pdf book from Steven Dunaway at the CFR suggests that it is well past time to deal with the core problems that caused the crisis. Dunaway puts the onus in part on the G20 to ensure something like this does not happen again, but he is also realistic about the ability of trans-national bodies to attack the core issues. In the end, the matter lies in the hands of national governments.

Not a terribly comforting thought, particularly when one considers the institutionalize profligacy of countries like Greece. Nonetheless, Dunaway has done his homework, and his reasoning makes it mandatory reading.

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