Financial crisis

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Chapter 14 in Morality and Power, 2017, pp 244-262 from Edward Elgar Publishing

Abstract: Chapter 14 focuses on the ethical problems raised by developments in the financial sector of the advanced capitalist economies in the lead up to and policy responses arising from the 2008 global financial crisis and its lingering aftermath in the USA and Europe. The global financial crisis burst on a world and an economics profession that was blind to its possibility. Although initial responses managed to avoid the main mistakes that turned the Wall Street Crash of 1929 into the Great Depression, an untimely reversion to the policy of enforced austerity prolonged the misery among the majority of the peoples of the advanced economies. The crisis uncovered a pervasive ethical malaise at the core of a contemporary capitalism.

Keywords: Politics; and; Public; Policy (search for similar items in EconPapers)
Date: 2017
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