Financial markets in free fall after the 2016 USA elections. Have we learnt anything from previous financial crisis?
New Book out
After the Financial Crisis
Pablo Iglesias, Anna Triandafyllidou and Ruby Gropas (eds)
Palgrave Studies in European Political Sociology, 2016
At the aftermath of the financial crisis, both elites and citizens have had to rethink the nature of the market, the role of the state as a market regulator and as a provider of welfare, the role of political parties in representing society’s main political and social cleavages, the role of civil society in voicing the concerns of citizens, and the role of the citizen as the ultimate source of power in a democracy but also as a fundamentally powerless subject in a global economy. However, this book shows that the changes carried forward are at best partial and incomplete. We propose the notion of ‘incomplete paradigm shift’ to analyse this situation and argue that instead of radical reforms we are witnessing today the stillbirth of a new political and economic paradigm.