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Globalised finance had failed; only massive state intervention had averted collapse of the banking system.
The "enemies within" and the "organised revolutionary minority" bent on overthrowing the old order turned out to be globalised finance, not the Communist party.
Globalised finance, it turns out, is an inextricable part of global integration.That means the right question for emerging economies to ask is not whether global finance is a good thing but how to maximise the gains and minimise the costs.
Also, the well-off have less incentive to lobby for reforms at home if they are free to store their wealth overseas.Perhaps, then, the gains from globalised finance are latent and will be unleashed once catalysing reforms are in place?
As a result, parties of the left had nothing to say when the financial crisis of 2008 exposed the weaknesses of globalised finance, debt-fuelled growth and trickle-down economics.
But if there is a lesson progressive forces in Europe should learn, it is that voters do not like the downside of free markets, and crave protection from the volatility of globalised finance.
Similar(52)
The paper explores not only how the art world has aped many aspects of globalised high finance but also how a symbiotic relationship has developed between finance and art in conceptual innovations, promotional strategies and transnational flows of capital, people and ideas.
As a small-scale fightback against globalised high finance and footloose multinationals channelling profits offshore, a number of regions have started "parallel currencies", which can only be spent on goods and services from local businesses.
As the current crisis has shown, the globalised nature of finance means that problems in one jurisdiction cannot easily be isolated from markets elsewhere.
Raising corporation tax is one such stunt – in an increasingly globalised world of finance, this is an out-of-date way of enriching the exchequer.
Brexit is the manifestation of a problem that surfaced in 2008 and has never remotely been solved: how to make the globalised model of finance-dominated capital work for the mass of voters in the developed world.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com