Why are we in recession?

The spread of the current financial crisis from the US to countries across the globe just showed how interlinked today’s national economies are. The importance of trade and financial flows in such interlinking cannot be overemphasized.  However, what about the linkages emanating from from a global labor market? Does it have anything to do with the current crisis? Ravi Jagannathan and folks have something interesting to say on this.

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Filed under current economic issues, macroeconomics

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