“This Was Not Supposed to Happen!”

Populism ◽  
2020 ◽  
Vol 3 (1) ◽  
pp. 65-86 ◽  
Author(s):  
Philip Giurlando
Keyword(s):  
Great Recession ◽  
Debt Crisis ◽  
The Political ◽  
Political Movements ◽  
Economic Insecurity ◽  
Subjective Impression ◽  
The Great Recession ◽  
Large Numbers ◽  
Political Realm ◽  
National Control

Abstract This paper argues that the “feeling of betrayal” thoroughly entangles feeling and narration into a single subjective impression. When felt by large numbers of citizens in the political realm, it motivates the desire to reassert national control over a realm where such control is perceived to have been lost. Expressions of “feeling betrayed” can be observed in the aftermath of the Great Recession and the consequent populist insurgencies impacting many Western countries, suggesting links between economic insecurity, feelings of betrayal, and the willingness to support non-mainstream political movements which demand a reassertion of national control. The paper attempts to demonstrate these links by analyzing Italy and Greece, two countries which saw a surge in support for populist groups after the Eurozone’s debt crisis.

scholarly journals The Great Recession and Drinking Outcomes: Protective Effects of Politically Oriented Coping

2014 ◽  
Vol 2014 ◽  
pp. 1-10 ◽  
Author(s):  
Judith A. Richman ◽  
Robyn Lewis Brown ◽  
Kathleen M. Rospenda
Keyword(s):  
Great Recession ◽  
Structural Equation ◽  
Equation Modeling ◽  
The Political ◽  
Drinking Patterns ◽  
Social Stressors ◽  
The Great Recession ◽  
Brief Cope ◽  
Drinking Outcomes ◽  
Political Realm

Research derived from the stress paradigm suggests that certain types of coping (e.g., problem-focused coping instead of behavioral disengagement) are protective against problem-related drinking to deal with social stressors. Going beyond the typical focus in the coping literature, we hypothesize that stressors engendered by macrolevel social forces may require coping actions within the political realm in contrast to modes of coping focused outside of the political realm. A United States sample of 663 respondents completed a mail survey in 2010, including measures of stressful consequences of the Great Recession, drinking patterns and problems, modes of coping encompassed in the Brief COPE instrument, and politically oriented coping. Structural equation modeling examined whether modes of coping mediated the links between stressors and drinking outcomes. A substantial portion of the associations between stressors and drinking was explained by modes of coping. Politically oriented coping was protective against problem drinking for both genders. Future studies should further explore politically oriented coping in addition to modes of coping outside of the political realm when studying the relationships between macrolevel social stressors and deleterious drinking outcomes.

The Impact of the Greek Indignados on Greek Politics

2016 ◽  
Vol 40 (2) ◽  
pp. 125-157 ◽  
Author(s):  
Paris Aslanidis ◽  
Nikos Marantzidis
Keyword(s):  
Public Opinion ◽  
Great Recession ◽  
Sovereign Debt ◽  
Party System ◽  
Debt Crisis ◽  
Supply And Demand ◽  
The Novel ◽  
The Great Recession ◽  
Political Forces ◽  
The Impact

The burden of this paper is to assert the significance of the 2011 movement of the Greek indignados for Greek politics during the Great Recession. Acknowledging the systematically feeble analysis of the nexus between non-institutional and electoral politics in social movement literature, the authors analyze the emergence, development, and heritage of the Greek indignados, focusing squarely on their impact on public opinion and the domestic party system, both at the level of interparty, as well as intraparty dynamics. The authors’ conclusions are drawn mainly from an analysis of political party discourse, public opinion data, and interviews conducted on the field, catering equally for the supply and demand side of the novel political claims that surfaced during the first years of the Greek sovereign debt crisis. The authors point to the crucial contribution of the movement’s discourse in facilitating voter defection from the traditional two-party system that ruled Greece for more than thirty years, and argue that the indignados functioned as a beacon of populist discursive tropes, which cemented the emergence of a new divide in Greek society between pro- and anti-bailout citizens. Conclusively, the authors take the position that the imprint of the indignados on the Greek psyche has had tremendous repercussions in consolidating a new party system, by undermining traditional political forces and legitimizing new, anti-establishment contenders.

scholarly journals War 2008 das neue 1929? Richtige und falsche Vergleiche zwischen der Großen Depression der 1930er Jahre und der Großen Rezession von 2008

2012 ◽  
Vol 13 (Supplement) ◽  
pp. 36-57 ◽  
Author(s):  
Albrecht Ritschl
Keyword(s):  
Great Depression ◽  
Great Recession ◽  
Global Financial Crisis ◽  
The Political ◽  
Final Phase ◽  
Main Hypothesis ◽  
The Great Recession ◽  
The Great Depression ◽  
Political Response ◽  
Fast Spreading

AbstractThe Great Recession of 2008 hit the international economy harder than any other peacetime recession since the Great Contraction after 1929. Soon enough, analogies with the Great Depression were presented, and conclusions were drawn regarding the political response to the slump. This paper is an attempt to sort out real and false analogies and to present conclusions for policy. Its main hypothesis is that the Great Recession resembles the final phase of the Great Contraction between 1931 and 1933, characterized by a fast spreading global financial crisis and the breakdown of the international Gold Standard. The same is also true of the political responses to the banking problems occurring in both crises. The analogy seems less robust for the initial phase of the Great Depression after 1929. The monetary policy response to the Great Recession largely seems to be informed by the monetary interpretation of the Great Depression, but less so by the lessons from the interwar financial crises. As in the Great Depression, policy appears to be on a learning curve, moving away from a mostly monetary response toward mitigating counterpart risk and minimizing interbank contagion.

scholarly journals Betrayed by the Elites: How Corruption Amplifies the Political Effects of Recessions

2021 ◽  
pp. 001041402110474
Author(s):  
Carlos Sanz ◽  
Albert Solé-Ollé ◽  
Pilar Sorribas-Navarro
Keyword(s):  
Great Recession ◽  
Fixed Effects ◽  
Political Corruption ◽  
The Political ◽  
Difference In Difference ◽  
The Great Recession ◽  
Level Data ◽  
Political Effects ◽  
History Of ◽  
Municipal Level

We investigate whether corruption amplifies the political effects of economic crises. Using Spanish municipal-level data and a difference-in-difference strategy, we find that local unemployment shocks experienced during the Great Recession (2008–2015) increased political fragmentation. This effect was four times larger in municipalities exposed to malfeasance than in municipalities without a history of political corruption. We bolster this evidence by showing that, conditional on province and population strata fixed effects, there is no evidence of differential pre-trends. We also find that the interaction of unemployment and corruption harms the two traditional main parties and benefits especially the new party on the left ( Podemos).

Genossenschaftsbanken – Solides Kreditwachstum während der Coronapandemie

2021 ◽  
Vol 90 (2) ◽  
pp. 67-80
Author(s):  
Andreas Bley ◽  
Martin Micheli
Keyword(s):  
Great Recession ◽  
Debt Crisis ◽  
Bank Lending ◽  
Bank Loans ◽  
Supply Side ◽  
Demand Side ◽  
The Great Recession ◽  
Kleine Und Mittlere Unternehmen ◽  
Cooperative Banks ◽  
Generous Credit

Kleine und mittlere Unternehmen in Deutschland haben auch während der Coronapandemie einen sehr guten Zugang zur Kreditfinanzierung. Hierauf deuten sowohl Umfragen unter Unternehmen als auch unter Banken hin. Der sehr gute Kreditzugang manifestiert sich in einem kräftigen Kreditwachstum während der Krise. Insbesondere die genossenschaftliche Kreditvergabe wächst seit vielen Jahren, auch während Rezessionen, mit robusten Raten. Im Rahmen eines Ungleichgewichtsmodells zeigen wir, dass die Kreditvergabe genossenschaftlicher Banken in der Coronapandemie durch die Nachfrage bestimmt wurde. Es gibt keine Anzeichen für angebotsseitige Beschränkungen der genossenschaftlichen Kreditvergabe. German small and medium corporations had sufficiently access to bank loans during the Corona Pandemic. This is the result of surveys conducted among corporations and banks. A strong growth of bank loans points at generous credit provisions by German banks. Especially bank lending by cooperative banks has been remarkably robust in recent years and has expanded during the Great Recession as well as the European Debt Crisis. In a disequilibrium model, we show that cooperative banks’ loan volumes during the Corona Pandemic have been determined by the demand side. There is no evidence for supply side restrictions.

The transformative impact of the Great Recession on the political system

2021 ◽  
pp. 152-160
Author(s):  
Eva H. Önnudóttir ◽  
Agnar Freyr Helgason ◽  
Ólafur Th. Hardarson ◽  
Hulda Thórisdóttir
Keyword(s):  
Great Recession ◽  
Political System ◽  
The Political ◽  
The Great Recession ◽  
Transformative Impact

PROJECTIONS ONTO THE PAST: MEMORIES OF DEMOCRATIZATION IN SPAIN, GREECE, AND PORTUGAL DURING THE GREAT RECESSION*

2019 ◽  
Vol 24 (4) ◽  
pp. 511-524 ◽  
Author(s):  
Kostis Kornetis
Keyword(s):  
Great Recession ◽  
Public Discourse ◽  
The Political ◽  
Oral Histories ◽  
The Great Recession ◽  
The Past ◽  
Contemporary Politics ◽  
Younger Generation

This article engages the argument that the 2008–2009 Great Recession forced a revisiting of the period of transitions in Spain, Greece, and Portugal as “political masterpieces,” especially among a younger generation of activists. It argues that this radical reevaluation turned the conflicting generational recollections of the past into pivotal components of present political contestation. Moreover, it shows how the redeeming power of the transitions animates the political, cultural, and public discourse of young politicized people who, although (or precisely because) they have not experienced these events directly, keep returning to them to make sense of contemporary politics. The complex relations between past and present are analyzed using oral histories with the so-called Generation 2 of the transitions, namely people who have only “projective memories” of these events during the 1970. Especially relevant is the effects of their participation in the 2011 indignados movements.

High Tech and High Touch

2017 ◽  
Author(s):  
James E. Coverdill ◽  
William Finlay
Keyword(s):  
Social Media ◽  
Labor Market ◽  
Labor Markets ◽  
Great Recession ◽  
High Tech ◽  
Internal Labor Markets ◽  
Job Seekers ◽  
The Great Recession ◽  
Labor Market Intermediaries ◽  
Large Numbers

This book examines headhunting—contingency recruiting—in the wake of two profound changes in the labor market. The first is the emergence and explosive rise of various forms of social media, most prominently LinkedIn, which have made information about employers, jobs, and job-seekers much more widely available. The second is the unraveling of internal labor markets and the fraying of the ties between employers and employees, which started in the 1980s and 1990s, and accelerated in the wake of the bursting of the dotcom bubble and the Great Recession. Both changes created the possibility that employers and candidates would be able to find each other without the benefit of labor-market intermediaries like headhunters. The book explains why headhunting survived these changes: employers still need headhunters to find good candidates quickly. In a high-tech world, it is relatively easy to find large numbers of apparently qualified prospective candidates. Headhunters, however, determine which of these prospects are truly viable candidates and they invest time and effort in converting prospects into candidates. They bring high-touch search to a high-tech labor market.

The Causes and Legacy of the Great Recession in Spain

2020 ◽  
pp. 115-131
Author(s):  
Sebastián Royo
Keyword(s):  
Economic Growth ◽  
Great Recession ◽  
Political System ◽  
Economic Consequences ◽  
The Political ◽  
The European Union ◽  
New Parties ◽  
Political Consequences ◽  
The Great Recession

After over two decades of prolonged economic growth, Spain suffered its worst economic crisis in decades between 2008 and 2014. The political, social, and economic consequences of this crisis were very severe: unemployment increased sharply reaching over 27 per cent; inequalities deepened; and the two-party political system was transformed by the emergence of new parties. The implementation of structural reforms, which intensified as a result of the European Union financial sector bailout of 2012, led to economic recovery. As a result, credit was restored, strong economic growth resumed, and the political system did not implode. Yet, persistently high unemployment (particularly as regards youth and long-term) as well as inequality (and to a certain extent poverty) still persist a decade after the crisis. This chapter looks at the genesis of the crisis and examines the responses to the crisis, as well as its economic, social, and political consequences.

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