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ISSN: 1870-1442

:: Number 37 (September - December 2020)

Editorial

The theoretical debate behind economic policies has generally taken as a starting viewpoint the state of business, which fatefully ends in crisis. This situation is considered to be an anomaly; almost fallen from heaven, things will improve when the recovery cycle begins, which is invariably believed to come very soon. However, in reality, the markets solution is not the way out of crises, as can be seen starkly with the enormous new difficulties that the pandemic has produced throughout the world. After the important support of governments with public resources, banks and capital markets have temporarily obtained historical gains, while the situation continues to be critical for society. To the extent that returning to normal is not an option, social, economic and political transformation is imposed; but where is it leading? Will the ideas, practices and social understanding be ready to stand firm at the crossroads? Or, as some historians suggest, will an authoritarian exit to barbarism be imposed? One of the few and exceptional experiences that could illustrate the way is the history of the 1929 crisis and its results until the construction of what was called the golden age of capitalism, from the late 1940s to the early 1970s.

A different perspective to the dominant vision of the economy is emerging, a human and social strategy to face difficulties in another way and achieve new goals in work and care systems. The recent and not so short history of the 21st century is showing that the conventional vision of the economy is increasingly questioned, and above all that, as time progresses, the difficulties do not stop growing. In recent decades, the global economic deterioration has become evident, and with it the deterioration in almost all areas, be it social, political, cultural or others, which has been dragging down more and more sectors of the population of the entire world.

The dot-com crisis, which was nothing more than an unanswered call for attention to the difficulties that were gestating thirty years ago and came into focus during the great recession 2007-200, which has not yet ended, and to the contrary threatens to deepen not only nor fundamentally due to the pandemic of 2020, but also due to processes that have accelerated within the realm of global finance.

Today the planet is facing all types of difficulties, which can no longer be prioritized by urgency or importance, due to the simultaneous and great magnitude such as unemployment, the environment, public debt, business and families, health and education conditions, and of course the economy, whichhas been systematically destroyed. All of these calamities could begin to be contained, starting with a strong process of redistribution of wealth to combat the equally strong concentration of the last forty years, especially in the global financial system, which to a large extent has been and continues to be the winner, and is precisely the biggest obstacle to starting the reversal of the damage caused.

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OLA FINANCIERA, Vol. 13 No. 37,    September - December 2020, is a quarterly publication, with international arbitration, edited by Universidad Nacional Autónoma de México by Instituto de Investigaciones Económicas, Ciudad Universitaria, Circuito Mario de la Cueva s/n, Ciudad de la Investigación en Humanidades, Coyoacán, C.P. 04510, México, D.F. Tel.+52 (55) 5623-0131, and Faculty of Economics, Ciudad Universitaria, Circuito Interior s/n, Coyoacán, C.P. 04510, México, D.F., www.olafinanciera.unam.mx, ola.financiera.unam@gmail.com Editor in charge: Dr. Sergio Cabrera Morales. Reservation of Rights to Exclusive Use: 04-2013-050912324700-203, ISSN electronic: 1870-1442. Responsible for the last update of this issue, Ing. Jesús Garrido López, Circuito Mario de la Cueva s/n, Ciudad de la Investigación en Humanidades, Ciudad Universitaria, Coyoacán, C.P. 04510, México D.F. date of last modification, September 03, 2020.

The opinions expressed by the authors do not necessarily reflect the position of the editor of the publication.

Permission to reproduce all or part of the published texts is granted provided the source is cited in full including the web address. Otherwise, it requires prior written permission from the institution.