Opinion | In memory of James Woodburn Dean: a rebel with a cause4 min read 10 Mar 2019, 11:23 PM IST
An expert on sovereign debt crises, James had foreseen the dangers that an over-leveraged US financial sector posed
Back in 2006, a macroeconomist warned of the dangers to the US and the world economy from an over-leveraged and bloated financial sector and widening wealth and income inequalities in the US and other advanced economies. Further, he predicted—or should I say prophesied—that, should these not be attended to urgently, the US could slip into a recession, or worse. He added that this would eventually lead to a protectionist backlash from those left behind and potentially threaten the entire globalization enterprise.