POST-CRISIS LESSONS FOR OPEN ECONOMIES

Abstract

In a systemic perspective, what are the primary transmitters of global competitiveness with the proper coordination mechanism? What are the systemic
impacts of the U.S. economy on world markets? Will the United States stay the
main engine of world economic growth for quite some time to come, or at least
in the current decade? Will and should the United States, as the single largest
open economy of the world, be in some way responsible for the provision of
global economic stability as a valuable public good? Was the recent crisis predictable? These are the main questions addressed, all of which are answered in
a new global context, and the responses are based on some known principles
of international economics and economic history.