The Global Economic Cycle

amandstu

Apologies if this is an obvious question but is it in any way possible to influence the economic cycle on a global level?
I mean ,if the world goes into a recession , can anything really be done about it?

My reasoning goes this way.If one economic region is doing badly (obivously I am not ralking about natural disasters or peak oil) then a corrresponding resgion or group of regions will have benefited.

My guess is that ,even if we had a United Nations Minister of Finance he or she would be unlikely to be able to put an end to any turndown before the turndown had worked its own way through the system?

Again I am excluding advances in technology (am I mad? Is there really no point in looking for a bedrock of economic theory?) but is there an inevitabilty about the (global) economic cycle or can it be countered?

V_Moth

I think a good place to start looking is why there were no financial or banking crises between 1945 and 1973, as well as why they have been an annual feature since the mid-1990's.

http://en.wikipedia.org/wiki/List_of_banking_crises#20th_century
http://en.wikipedia.org/wiki/List_of_stock_market_crashes_and_bear_markets

Scofflaw

V_Moth wrote: »

I think a good place to start looking is why there were no financial or banking crises between 1945 and 1973, as well as why they have been an annual feature since the mid-1990's.

http://en.wikipedia.org/wiki/List_of_banking_crises#20th_century
http://en.wikipedia.org/wiki/List_of_stock_market_crashes_and_bear_markets

http://en.wikipedia.org/wiki/Glass%E2%80%93Steagall_Act

cordially,
Scofflaw