| As the economies of key nations such as the US and Europe show signs of relapsing into a recession, concerns have been raised as to whether the 2008 crisis, marked by the fall of Lehman brothers, will continue to have long term effects. Furthermore, public backlash against recent cost cutting measures instated by European nations hard-hit by the recent financial crisis have culminated in massive protests and strikes. The economic values of growth, efficiency, speed that were emphasized pre-crisis now seem to conflict with the societal desire for justice, balance and co-existence. Harsh economic realities manifested in the form of chronic unemployment, shrinking purchasing power, the weakening of social safety nets, as well as an unclear economic outlook have pushed societies to the brink of all out crisis. Unfortunately, under these pressures, the governments of developed nations have focused less on alternatives that resolve system problems and instead focus more on populistic policies that appease the masses and threaten the long term development of both the national and international economy, thus increasing the possibility of an even more sever crisis in the future. In particular, if national self-interest and protectionism lead into an era of anti-globalism, the world economy will undoubtedly find itself in a significantly less favorable position than now. Thus, in this discussion, we will examine the systemic risks that accompany wars in trade, resource, energy ... |
