The World Economy and Financial System: A Paradigm Change Offering a Sustainable Approach

Foreword
Preface
Acknowledgments
Contents
About the Author
List of Figures
List of Tables
1 Introduction
	References
2 A Brief History of Economic and Global Financial Systems
	Brief History of Economic Systems
	History of the Global Financial System
	References
3 Financial Crises: From 1929 Great Depression to 2020 Great Lockdown
	1929 Great Depression
	The Oil Crisis 1973 and 1979
	1980 Latin American Debt Crisis
	1987 Black Monday
	The US Savings and Loans Crisis (1989–1991)
	1992 Collapse of Japanese Asset Price Bubble
	1994 Mexican Peso Crisis
	1997 Asian Financial Crisis
	1998 Russian Ruble Crisis
	2000 Dot-Com Bubble
	2001 September 11 Attacks
	2008 Global Financial Crisis
	European Debt Crisis
	2020 COVID-19 Recession (Great Lockdown)
	References
4 The Global Risks and Problems of the Economic and Financial Systems
	Global Debt
	Post-COVID-19 Debate: Inflation vs. Unemployment/Recession (From Keynesian Policies to Friedman Approach)
	Inequality in Wealth Distribution
	Re-Globalization Under the Shadow of Brexit, Trade Wars, COVID-19, and Geopolitical Conflicts
	The Effects of Brexit
	Trade Wars
	The Effects of COVID-19
	Geopolitical Conflicts
	References
5 A Short Anatomy of the Turkish Economy and the Signs of a New Crisis
	Turkish Economy: From 1923 to 2023
	Are There Signs of a New Crisis?
	References
6 Time to Question
	What Are the Main Needs of People?
		Housing
		Education and Health
		Peace
		Freedom and Rule of Law
	Why Do People Work?
	What is Money for?
	What Makes People Happy?
	How the Conflicts Among Individuals and Societies Can Be Avoided?
	References
7 The New Sustainable Approach
	Does Economic Growth Really Matter?
	What Are the Alternatives?
		Circular Economy
		Sharing Economy
		Digital Economy
		Islamic Economics and Finance
	The New Approach
	Main Pillars: Developing, Balancing, Saving, and Sharing
		Pillar 1: Developing
		Pillar 2: Balancing
			Diderot Effect
		Pillar 3: Saving
		Pillar 4: Sharing
	The Model Framework of the New System
	From Debt-Oriented Deadlock to Partnership-Tailored Solution Approach
		The Model Framework
		What Are the Sources of Money for the New System?
			Sovereign Wealth Funds
			Pension Funds
			Insurance
			Mutual Funds
			Hedge Funds
			Venture Capital Investment Funds
			Real Estate Investment Funds
	How Can the Model Be Implemented?
		An Alternative Housing Financing Model
		An Alternative Approach to Replace Debt Financing
		An Alternative Project Financing Model: Public-Private-People Partnership (4P Model)
		Redesigning the Pension and Insurance Systems
		A New Tax System
	References
8 What Is Next?
	References
Index