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Consumptionomics by Chandran Nair

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After the crash

Then came the financial crisis of 2008. As governments bailed out banks and the extraordinary machinations of the sub-prime mortgage market came to light, it seemed for a brief period that the world stood on the brink of a new era – one in which finance and free market economics would never again be able to exert the influence they had in the previous two decades.

Two years on, we know that this was not the case. Despite the ensuing collapse in trade and deep recession across Europe and the United States, what is most striking about the global economy is just how little has changed in the way it is allowed to operate. For sure, there has been much discussion of the need for greater market oversight and regulation, but the idea ...

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