Real World Economic Outlook: The Legacy of Globalization: Debt and Deflation

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Real World Economic Outlook is a yearly publication that will review issues in the global economy from a different, radical and more realistic perspective. In stark contrast to the output of other institutions like the IMF and World Bank, this annual report is written in an accessible way, informing and offering alternative analyses of the global economy to a wide audience. Real World Economic Outlook 2003 's theme is globalization's true legacy: debt deflation. Globalization is examined not as a spontaneous event of economic and technological combustion, but as a deliberate strategy to place finance at the centre of our communities - whether local, national or global. The legacy of this strategy has proved disastrous. Individuals, households, governments and corporations have collectively been lured into a quagmire of debt and deflation.