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Economía UNAM

versión impresa ISSN 1665-952X


IBARRA MUNOZ, David. Evanescent World Development. Economía UNAM [online]. 2014, vol.11, n.32, pp.03-20. ISSN 1665-952X.

With some minor differences, there are two main paradigmatic economic strategies compatible with the globalization trust that in are use in the world. One, is based upon the expansion of credit, of financialization, to displace the role of investment and employment in armonizing aggregate supply and demand within each country. Any resulting gap between both variables is filled with imports, creating cripping disequilibria in foreign international trade and financing. The second one is designed to cover deficiencies in domestic demand by exporting, i. e., by using the purchasing power of other countries. Nowadays, both strategies are becoming obsolete due to changed world circumstances and due to global imbalances created by its application. There are huge inequalities in the distribution of benefits from world trade, as well as between capital and labour. Those imbalances create different political and economic problems among countries and regions that make it hard to find common and prompt answers both to the global crisis and to the needed reconstruction of the international economic order.

Palabras llave : Crisis; Creditism; Export Strategies; Globalization; Employment.

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