, Volume 85, Number 4

Randall Germain

Many insist that the world economy today is in the grip of the most severe financial crisis since 1931. Although the origins of this crisis are in dispute, the extent and scale of the changes prompted by it are becoming clear. Among these changes are a recalibration of the relationship between public and private authority, a reconfiguration of the regulatory responsibilities and capacities of the state with respect to the financial system, and a rebalancing of relations of power among states.

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