Finance Professor: Global Economy Has Become an Unsustainable 'Hothouse'
February 1, 2016
Contact: University Relations
Phone: 410.837.5739
Steve Isberg, associate professor of finance in the University of Baltimore's Merrick School of Business, writes in an op-ed in The Baltimore Sun that the global economy is in drastic need of reform—its behaviors are enriching the few and disenfranchising tens of millions. The solution, he says, will require a period of managed deflation that will alleviate debt and stimulate growth.
"The world's economy has become a hothouse," Isberg writes. "Growth in a hothouse is artificial, inorganic and unsustainable. People all over the world are suffering economically because the largest economies have created an artificial environment. Their tools are gradual inflation and leveraged restructuring, much of which has been fueled by massive infusions of monetary 'reserves' by the central banks."
Read the op-ed.
Learn more about Prof. Isberg.