The global financial emergency: how to overcome it
The current financial crisis has lasted longer and been more damaging than expected, revealing the extent of market failure. The rule-free market era is over. No longer does anyone believe the “solid” economy – especially real estate – will turn into a “liquid” economy, thanks to deregulation. Widespread digital technology – a fundamental resource in globalization – does not help sell “toxic” shares: uncertainty about their worth only worsens the crisis.

