Shock & Crises

Economic shocks can turn into crises when they are large in magnitude and long-lasting.
Chile provides a good example of how countries can learn from past experiences to prepare themselves for the future. After the shock of copper during 1970-80s, Chile introduced copper stabilization funds and other macroeconomic measures. As a result, more recent shocks have produced milder effects on the economy.

More about the UNU-WIDER’s ‘Responding to crises’ conference:
https://www.wider.unu.edu/event/respo…

Conflict & Refugees

Migration can bring benefits but it is also a mechanism through which crises of any nature can spread out globally. The cost of migration for recipient countries can be unexpected as a result of the sudden need for housing, jobs, education, and healthcare.

Andrés Solimano of the Center for Globalization and Development (CICLOB) discusses the management of large numbers of people fleeing from conflict zones.

More about the UNU-WIDER’s ‘Responding to crises’ conference:
https://www.wider.unu.edu/event/respo…

Economic Elites, Crises and 21st Century Capitalism

21st century capitalism has led to a growing concentration of economic power and political influence in the hands of small elites. Nowadays, economic elites control the bulk of income and wealth; reduce competition; worsen inequality; and make the democratic system very dependent on the corrosive power of money.