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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.
Grouped Articles
In Scotland and Beyond, a Crisis of Faith in the Global Elite
New York Times 09.20.2014
The world economy: Wealth without workers, workers without wealth
Economist 10.06.2014
How Righteousness Killed the World Economy
New York Times 10.12.2014
Germany, France Tap Economists for Advice to Avoid ‘Lost Decade’
Wall Street Journal 10.14.2014
Jerry Brown is spending more on ballot measures than on his own campaign - The Washington Post
Washington Post 10.24.2014
British Treasury Targets Banks to Increase Tax Revenue
New York Times 12.04.2014
Inflation in Britain Falls to Lowest Rate in 15 Years
New York Times 01.13.2015
David Cameron Struggles to Turn Economic Recovery Into Votes
Wall Street Journal 05.06.2015
In U.K. Election, It’s Jobs Boom vs. Stagnant Wages
Wall Street Journal 05.07.2015
David Cameron and Conservatives Get Majority in British Election
New York Times 05.08.2015
Markets, democracy and economics: The winning formula?
Economist 05.09.2015
England’s Bank Fines Are a Boon for a Happy Few
Wall Street Journal 05.31.2015
Theresa May Is Poised to Be Britain’s Next Prime Minister
The New York Times 07.11.2016
Bank of England unveils four-pronged stimulus package in bid to avoid Brexit recession
The Telegraph 08.04.2016
Globalization: Capitalism Should Be Nicer | ZEIT ONLINE
ZEIT ONLINE 07.29.2016
U.S. Household Incomes Surged 5.2% in 2015, First Gain Since 2007
WSJ 09.13.2016
The New York Times 09.16.2016
The Economist 10.08.2016
The Parallels Between Brexit and Scottish Independence
WSJ 03.16.2017
U.K.’s Economic Divide Takes Focus as May’s Lead in Polls Shrinks Ahead of Election
WSJ 06.06.2017
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