The Financial Crisis as a Crisis of Public Reasoning
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It would be inadequate to describe the financial turmoil which has shaken the developed world since 2007 as a purely economic event. On a deeper level, the crisis seems to have shattered the confidence of most of the affected societies and provided ample evidence of the vulnerability and declining strength of the Western hemisphere after centuries of global domination. Therefore, it might also challenge the credibility of that particular form of government that underpins the Western world: democracy.
KeywordsFinancial Crisis Global Financial Crisis Capital Requirement Debt Crisis Public Reasoning
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