Title: Economic growth and economic crisis

Authors: Victor Anderson

Addresses: Green Economics Institute, UK

Abstract: This article argues that the recent financial crisis was caused largely by the long-term problem of the current world economy lacking a sustainable path of development. Limits to growth – expressed principally through rises in the price of oil and other commodities – created a crisis for the global financial system, which has been based essentially on the assumption that economic growth will continue indefinitely. A mismatch was thereby created between the |real economy| and the finance sector.

Keywords: financial crisis; economic crisis; sustainability; commodities; economic growth; limits to growth; economic development; sustainable development; price rises; global financial system; real economy.

DOI: 10.1504/IJGE.2009.026489

International Journal of Green Economics, 2009 Vol.3 No.1, pp.19 - 27

Published online: 17 Jun 2009 *

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