Financial Fears, Flows, and Globalization

As readers of this blog already know, markets are far less integrated internationally than popular views of globalization presume. So many of you are probably wondering why a game of chicken initiated in the U.S. Congress could wreak havoc as far away as Asia, or how problems in the Eurozone might cloud U.S. prospects. And of course, you want to know what is to be done. Our current problems stem,...