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British Capitalism After Crisis - Coggle Diagram
British Capitalism After Crisis
Privatised Keynesian Economy
Change in economy from manufacturing into services
Government bailout
Thatcherism
Mixed economy
Incomplete Transformation Post 2008
Why? Financial crisis fallout
Social & distributional conflict
Regional imbalance
40 years ago: UK similar & at par with inequality with Scandinavian countries
Increased inequality & poverty
Democratic Capitalism
Rising wages
Mass consumption and inequality
Division of labour
Unsolved financial crisis since 2008
Increased volatility post-Covid
Geopolitical uncertainty
Overdependence on finance
Austerity
Then what?
Discontent amongst the working class
Rise in populist politics
Ex: Hungary, Spain, India, USA, UK
Sociological deviation
Gender inequality
Gentlemanly capitalism
Lack of public funding
Brexit
Dealt with poorly by politicans compared to other historical crises