The Political Economy of the Crisis
IA020 | Spring | 6/9ECTS
The forces of globalisation – trade and financial liberalisation, political integration and technological change – have led to a dramatic expansion of the global financial system during the last two decades. Yet, the crisis that started in August 2007 has brutally reminded us that global economic integration remains a fragile enterprise as governments can quickly revert to nationalistic policies under the double pressure of powerful lobbies and of vocal unions. This class focuses on economic, political and social forces that have impacted on the unfolding of the crisis and their long-term consequences on regulation, the role of states, and inequality.