IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-0-230-34349-8_4.html
   My bibliography  Save this book chapter

A Tale of Two Cities: Financial Meltdown and the Atlantic Divide

In: The Legacy of the Crash

Author

Listed:
  • David Coates
  • Kara Dickstein

Abstract

The 2008 financial meltdown was a genuinely global affair. By the time it was over, the global banking system had lost up to $4.1 trillion of its value, the world fiscal deficit had risen from 2 percent to over 10 percent, and economies worldwide had seen a spike in unemployment that totaled at least 50 million (Skidelsky, 2009, pp. 13–16). These enormous numbers stand comparison to those generated by the depression of the 1930s, and like that depression, the one which began in 2008 threw a long global shadow. But the shadow was not the same everywhere. It was deepest where the crisis originated and the meltdown first occurred – in the United States and the United Kingdom. And even where it was deepest, there we can still see significant variations of gray. The purpose of this chapter is to chart and explain both the shadow and the variation.

Suggested Citation

  • David Coates & Kara Dickstein, 2011. "A Tale of Two Cities: Financial Meltdown and the Atlantic Divide," Palgrave Macmillan Books, in: Terrence Casey (ed.), The Legacy of the Crash, chapter 4, pages 60-78, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-34349-8_4
    DOI: 10.1057/9780230343498_4
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-0-230-34349-8_4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.