Today The Bahamas has become one of the world's foremost vacation resorts. Nassau is the political capital and the commercial hub of The Bahamas. Tourism and international banking and investment management accounts for more than 55% of the country's gross domestic product.
The financial crisis of 2007â08, also known as the Global Financial Crisis and 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.he financial crisis of 2007â08, also known as the Global Financial Crisis and 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.
Economic Crisis: Why There Are No Easy Solutions. What we are witnessing, in the broadest sense, is the bankruptcy of modern economics. Its conceit has been that we had solved the problem of stability. Oh, there would be periodic recessions, but the prospects of a major economic collapse were negligible because we knew how the system worked and could take steps to prevent it. What's been so unsettling about the present crisis is that it has not conformed to the standard model of business cycles and has not submitted to familiar textbook solutions.