The Global Financial Crisis and COVID... What Next?

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‘Hyper-globalisation’ and the power of finance culminated in the global financial crisis of 2008 that was potentially as severe as the Great Depression. The outcome was not public spending but austerity that hit the poor and Quantitative Easing that benefited the assets of the rich. The result was inequality and precarity, with barely any improvement in the standard of living for most by the time Covid hit. What signs are there of a much-needed transformation in attitudes to the economy?
A lecture by Martin Daunton
The transcript and downloadable versions of the lecture are available from the Gresham College website:
www.gresham.ac.uk/watch-now/f...
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Опубликовано:

4 май 2022

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Комментарии : 13

@rphfito Год назад

I can't believe this only had less than 4,000 views. Then we wonder why things don't change.

@chrisjackson6605 2 года назад

Banking regulations were in fact meaningfully tightened post GFC. Including the Basel package, substantial liquidity regulations, net stable funding requirements, the TBTF reforms including TLAC and in the US the long term debt rules and all of the requirements of DFA. So the assertion of capture and lack of regulatory response is false. As you can see there were no large M&A transaction in the GSIB firms which underlines the disincentive to growing balance sheet substantially that arose from those reforms.

@sisyphusvasilias3943 2 года назад

Your neglecting to mention that ALL of these weak reactionary legislative acts have since been undermined and guttered by contradicty legislation.

@stivoarscott5831 Год назад

And finally ...greatly clarifying. The key issue of a new social contract is that just when the western labouring man would get justice, that justice will rule that his overlords should be brought to heel to the benefit of the emerging market worker and not to his. We should be told!

@khalidalali186 Год назад

Lol, touché. Ironically, the worker of the developing economies throughout the world, is also taught to despise you white people, by self hating whites benefiting from your taxes and from the very economic system they detest, on your behest.

@thomasboyd6093 2 года назад

Awesome. Excellent channel. Art Bezrukavenko runs the British government in London England he delivered for Britain. Art Bezrukavenko help Labour party in England win 835 Councillors. Art Bezrukavenko win full P.R STV voting system for uk general election in Britain. Thomas.

@chrisjackson6605 2 года назад

The argument you make is not unreasonable, and populism is certainly a child of globalisation and the policy response to the GFC. but the facts you use to make it are not all facts. The argument about financial regulations not being tightened materially is evidently false. It would be better to correct that mistake as it would make the argument more compelling