Opinion | First- a Financial Crisis. Then a Geopolitical Crisis. – by David Leonhardt – NYT

The 10th anniversary of the Lehman Brothers collapse — the signature moment of our modern financial crisis — will arrive on Saturday. Media organizations and book publishers are using the anniversary to look back over the last decade, and one of the best piece I’ve read so far is in the latest issue of The New Yorker, by John Cassidy.

It is a review of “Crashed,” a book by the economic historian Adam Tooze, and Cassidy’s central point is that the main aftershocks have been as much political as economic.

“We are still living with the consequences of 2008, including the political ones,” Cassidy writes. “As wages and incomes continued to languish, the rescue effort generated a populist backlash on both sides of the Atlantic. Austerity policies, especially in Europe, added another dark twist to the process of political polarization. As a result, Tooze writes, the ‘financial and economic crisis of 2007-2012 morphed between 2013 and 2017 into a comprehensive political and geopolitical crisis of the post-cold war order.’”

via Opinion | First, a Financial Crisis. Then a Geopolitical Crisis. – The New York Times

About David Lindsay Jr

David Lindsay is the author of "The Tay Son Rebellion, Historical Fiction of Eighteenth- Century Vietnam," that covers a bloody civil war from 1770 to 1802. Find more about it at TheTaySonRebellion.com, also known as, DavidLindsayJr.com. David Lindsay is currently writing about Climate Change and the Sixth Extinction., as well as singing and performing a "folk concert" on Climate Change and the Sixth Extinction. He can be reached at daljr37(at)gmail.com.
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