Feb
10
In his book The Subprime Solution, economist Robert Shiller warns that in good times people are willing to co-operate and accommodate others but when optimism for the future turns sour, they become angry, fearful and selfish. The Great Depression therefore led to the rise of fascism, anti-Semitism, racism, nationalism and the eventually, the outbreak of World War Two.
Now we have a warning from the British Children's and Schools Secretary, Ed Balls, that the downturn is likely to see a return to the Far Right politics of the 1930s and the rise of Fascism. ""I think that this is a financial crisis more extreme and more serious than that of the 1930s and we all remember how the politics of that era were shaped by the economy," Balls said.
no comment untill now