Financial crisis of 2007–2008 and Free market

Shortcuts: Differences, Similarities, Jaccard Similarity Coefficient, References.

Difference between Financial crisis of 2007–2008 and Free market

Financial crisis of 2007–2008 vs. Free market

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s. In economics, a free market is an idealized system in which the prices for goods and services are determined by the open market and consumers, in which the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority.

Harvard University Press

Harvard University Press (HUP) is a publishing house established on January 13, 1913, as a division of Harvard University, and focused on academic publishing.

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Joseph Stiglitz

Joseph Eugene Stiglitz (born February 9, 1943) is an American economist and a professor at Columbia University.

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Liquidity trap

A liquidity trap is a situation, described in Keynesian economics, in which, "after the rate of interest has fallen to a certain level, liquidity preference may become virtually absolute in the sense that almost everyone prefers cash holding a debt which yields so low a rate of interest."Keynes, John Maynard (1936) The General Theory of Employment, Interest and Money, United Kingdom: Palgrave Macmillan, 2007 edition, A liquidity trap is caused when people hoard cash because they expect an adverse event such as deflation, insufficient aggregate demand, or war.

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Neoliberalism

Neoliberalism or neo-liberalism refers primarily to the 20th-century resurgence of 19th-century ideas associated with laissez-faire economic liberalism.

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Nobel Memorial Prize in Economic Sciences

The Nobel Memorial Prize in Economic Sciences (officially Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne, or the Swedish National Bank's Prize in Economic Sciences in Memory of Alfred Nobel), commonly referred to as the Nobel Prize in Economics, is an award for outstanding contributions to the field of economics, and generally regarded as the most prestigious award for that field.

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Recession

In economics, a recession is a business cycle contraction which results in a general slowdown in economic activity.

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