Harold van B. Cleveland
Essay
Spring
1988
US economic problems require defence spending cuts, since civilian programmes cannot be cut nor taxes raised, and these issues thus have a geopolitical dimension. Europe must therefore assume primary responsibility for its own defence, thus "sustaining the Pax Americana from which all have profited so handsomely".
Essay
Special
1980
In some ways, the world economic scene in 1980 was a rerun of 1979, with rapidly rising oil prices, a business slowdown in the industrial world, balance-of-payments trouble in developing countries, too little stability in financial markets, and too much inflation. But there was a significant change, too, in 1980, above all in the perception of the world's economic troubles and what to do about them.
Essay
Special
1980
INTRODUCTION: In some ways, the world economic scene in 1980 was a rerun of 1979, with rapidly rising oil prices, a business slowdown in the industrial world, balance-of-payments trouble in developing countries, too little stability in financial markets, and too much inflation. But there was a significant change, too, in 1980, above all in the perception of the world's economic troubles and what to do about them.
Essay
Fall
1979
Ten years ago a combination of rising inflation and incipient recession signaled the end of the Soaring Sixties. Yet few contemporary observers perceived that the end of the long postwar expansion was at hand, or that the coming decade would perhaps one day be labeled the Sagging Seventies.
Essay
Jul
1977
Since 1974 - when the oil crisis hit and the world recession began - a number of developing countries that do not export oil (non-oil LDCs) have been borrowing heavily in the international credit markets. Surprisingly, private banks, not international agencies like the International Monetary Fund (IMF) and the World Bank, have underwritten most of this massive debt buildup, as the table on page 734 shows. And this shift from traditional to non-traditional sources of financing, along with the sheer magnitude of the borrowing, has led to criticism of private banks for their handling of the situation.
Essay
Jan
1975
In the summer of 1929 a few prophets foresaw the coming stock market crash. Only one gifted with second sight could have foreseen the sequel-a world depression historians would single out by calling Great. In the United States at any rate, most of the business community continued to believe in permanent prosperity, until the bottom fell out. In contrast to this optimism on the brink of the abyss, the mood of business in the United States, Western Europe and Japan today is deeply pessimistic. The doomsayers among us see the current world economic slowdown not as an ordinary recession of the familiar postwar variety but as the onset of something closer to what happened in the early 1930s.
Essay
Jul
1969
Trouble is no stranger in Brussels. From the beginning, the European Economic Community has lived from crisis to crisis. One ought not, therefore, to conclude, simply because the Community is now confronted by rapidly mounting agricultural surpluses and a serious disequilibrium between the French franc and the German mark, that this resourceful institution is in serious trouble. And conversely, one should not assume that President de Gaulle's retirement will put things right.
