The 2008 financial crisis isn’t over yet
Welcome back to the Moral Revolution podcast!Over our first season, we released 19 episodes exploring the moral, economic, political, and spiritual questions that shape our common life. What began as an experiment has become a community, and we are deeply grateful to everyone who has listened, shared an episode, sent a message, or challenged us to think more carefully.This season, we’re aiming to publish every other week, with new conversations and guests we’re excited to share. We’re also delighted to welcome our new editor, Joel Ronson, who composed the podcast’s new theme music.Thank you for being part of this work.SummaryThis episode explores the roots and consequences of the 2008 global financial crisis, its moral questions, and its political aftermath, including the rise of the far right and the impact on European and American politics.Keywords global financial crisis, GFC, 2008, economic inequality, deregulation, moral questions, political fallout, Europe, America, far right, austerityKey topicsNeoliberal trifecta: inequality, capital mobility, deregulationMortgage-backed securities and financial engineeringMoral questions: who was rescued, who bore the costsEuropean debt crisis and the doom loopPolitical consequences: rise of far right and populismTakeawaysThe 2008 crisis was rooted in rising inequality and deregulation.Mortgage-backed securities were falsely rated as safe, fueling a bubble.The crisis exposed moral failures in the financial system.European austerity policies deepened economic and social divides.The crisis led to political shifts, including the rise of the far right.Sound Bites"You can't understand today's politics without the crisis.""Lehman Brothers was the sacrificial lamb." This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit moralrevolution.substack.com