The New Financial Order (Magill’s Literary Annual 2004)
At a glance:
- Author: Robert J. Shiller
- First Published: 2003
- Type of Work: Economics
- Time of Work: The twentieth and early twenty-first centuries
- Setting: The United States and a broad array of countries throughout Europe, Asia, and Africa
- Principal Characters: Robert J. Shiller, Alan Greenspan, Otto von Bismarck, George C. Marshall
- Genres: Nonfiction, Economics
- Subjects: United States or Americans, Africa or Africans, Politics, Twentieth century, Europe or Europeans, Twenty-first century, Developing countries, Economics, Equality, Ethics, International relations, Debtors or creditors, Geopolitics, Finance
- Locales: Africa, Europe, United States, Asia
When Otto von Bismarck, Germany’s so-called iron chancellor, implemented the world’s first national health program in 1883 and first national accident insurance in 1884, many world leaders thought he had taken leave of his senses and was surely leading Germany into the dark abyss of economic disaster. Bismarck’s utopian ideas were so revolutionary when they first emerged that they were widely regarded as hopelessly impractical and doomed to unabashed failure.
Ironically, during the next ten years, Austria, Italy, Sweden, and the Netherlands adopted versions of the...
[The entire page is 1830 words long]
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