Global instability and social disillusion

"We are arguably entering an age of increasing global instability and social disillusion, both of which may be seen as prominent hallmarks of the end of the globalization thrust and the beginning of an opposite ‘deglobalization’ era (see, especially, van Bergeijk 2019; James 2017). The symptoms of a growing instability and disillusion are variably expressed in politics, society and the economy, in so far as all these areas are experiencing a surge of nationalist and protectionist movements, fuelled by popular grievance and general distrust of elites (see, in this regard, Lagarde 2019). In the aftermath of the financial crisis of 2008, it has in fact become common for people, especially the middle-class in developed countries, to have declining perceptions of well-being and trust in the future.

- Giorgio Beretta, ‘FIXING’ THE SOCIAL CONTRACT: A BLUEPRINT FOR
INDIVIDUAL TAX REFORM"

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