Publication

In 2008 it became apparent that what had started as a financial crisis affecting international capital markets had translated into an economic crisis of global proportions with serious social consequences. Discussions at the international level focused primarily on the channels through which the crisis in financial markets was transmitted to the real economy, the largely unforeseen economic consequences of financialization, the economic impacts of the crisis, and the regulatory gaps that needed to be filled. The social and political dimensions of the crisis were absent from the discussion, or were addressed very superficially at best.