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Hubris and Nemesis: The Global Financial Crisis

  • Bryan Gould
Chapter
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Abstract

Any claim that western leaders know how to manage their economies was surely dealt a fatal blow by the crash of 2008. The uncertainties and confusion created by the global financial crisis — a crisis that was manifestly building over a long period but was almost entirely unforeseen by most western political and business leaders — must surely have undermined the primacy of neo-liberal ideology; and while, contrary to any rational expectation, the ‘Washington consensus’ remains the dominant ideological force in the West, it is hardly surprising that countries in the developing world are less convinced than they were that western investors and financial institutions have all the answers. The ideological debate remains alive and well in these countries, where the balance of advantage seems increasingly to rest with views other than those that are still hardly challenged in the West.

Keywords

Monetary Policy National Health Service Public Spending Global Financial Crisis Credit Default Swap 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Bryan Gould 2013

Authors and Affiliations

  • Bryan Gould

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