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In Scotland and Beyond, a Crisis of Faith in the Global Elite

New York Times Original article ›

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Credibility of elites tested in the decade following the financial crisis of 2008-2009- falling incomes in the U.S. and high unemployment in Europe, and disaffection in local regions such as Scotland

09/20/2014

Policies of Gordon Brown and Alistair Darling in a Labor government increased the role of the financial sector in the British economy and the part played by London as financial capital, only to lead to a near collapse of the banks in the financial crisis of 2008-2009. Brown and Darling are both Scots who failed to see the effects on regions in Britain such as Scotland, already affected by deindustrialization under the Conservative Thatcher government, and now hit by the repercussions of the financial crisis under first Labor and then austerity Conservative government of David Cameron. Irwin faults the elites for failing to grasp the effects of their policies on average working people, the risks involved in an overblown speculative financial sector, and only waking up with the elections for the European parliament and tense moments before the referendum in Scotland.

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In Scotland and Beyond, a Crisis of Faith in the Global Elite

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Scotland Independence Could Usher in Economic Uncertainty

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In Scotland, Avid Activists Fuel ‘Yes’ Campaign for Independence

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Scotland 'No' to Independence Hinged on Turnout

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