1. Are the U.S. trade deficits and accumulation of foreign debt sustainable? When will the U.S. economy have to undergo a fundamental shift toward trade surpluses?
2. Investigate the Glass-Steagall Act. Explain its importance. Why do some economists argue that the replacement of the Glass-Steagall rules in 1999 caused the Great Recession of 2007 - 2008?
3. Recount the history of the Eurocurrency markets. How has their development changed national banking sectors?
4. Why did orthodox economists not predict the 2007 - 2009 Great Recession and the financial crisis that triggered it? Explain