Great Recession

Global Spectator, by Andrés Ortega A vertical moment

There are horizontal periods – indeed some people, Thomas Friedman among them, believed some years ago that the world was definitively flat– and periods in which verticality imposes itself again. In many ways, we are once again moving from the horizontal to the vertical with, for example, borders where [...]

Spain finally bounces back – after nine years

At some point before the summer Spain will regain its pre-crisis (2008) GDP level. This will doubtless be the cause of some celebration in the conservative Popular Party (PP) government, which for the last six years has been getting to grips with the problems. Spain’s Great Recession, following the [...]

Global Spectator, by Andrés Ortega The western middle classes: decline, stagnation or rise?

The decline of a section of the middle classes in the west could be behind the electoral upheaval and the growth of populism in a large number of societies, but what is the truth of the matter? And if it is the case, what accounts for it? Globalisation? Technology [...]

The euro: an orphan who no longer needs his parents?

When my colleague Erik Jones told me that Martin Sandbu’s Europe’s Orphan: the Future of the Euro and the Politics of Debt was the best book on the Eurozone crisis, I was sceptical. Usually the analysis that comes from the Anglo-Saxon world does not grasp the complex sociology and [...]

Global Spectator, by Andrés Ortega Is the world economy seizing up? It’s not just because of China

Taking a long term perspective, much has been made of the ‘secular stagnation’ notion made fashionable by Larry Summers in 2014. It may be that we are in the midst of a long cycle or facing a worldwide readjustment or purge, partly owing to the slowdown and change of [...]

Global Spectator, by Andrés Ortega A more global connectedness

There are many who have held the belief that globalisation was a law of nature, like gravity. But it is not, and the events of the Great Recession should stand as a warning although, unlike in the Great Depression, there has been no collapse in a process that has [...]
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