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London burning, stock markets melting… time for structural change!

Monastiriotis, Vassilis (2011) London burning, stock markets melting… time for structural change! LSE Greece@LSE (11 Aug 2011). Website.

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The events of the last few days stand as a reminder of how ‘small’ episodes, from the – always unlawful – killing of a young man in London to the – otherwise unimpressive – downgrading of the credit-worthiness of USA government bonds, can trigger huge and uncontrollable chains of events. The (anticipation of and eventual) downgrading of the USA led to a mini stock market crash that wiped out in the space of two weeks asset values equal to the annual GDP of Germany. And the shooting of Mark Duggan in London led to a British “Athens December 2008” moment that left within 72 hours hundreds of shops looted, dozens of homes burned down and, reportedly, more people dead.

Item Type: Online resource (Website)
Official URL:
Additional Information: © 2011 The Author(s)
Divisions: European Institute
Spatial Economics Research Centre
Hellenic Observatory
LSEE - Research on South Eastern Europe
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
H Social Sciences > HG Finance
J Political Science > JC Political theory
J Political Science > JK Political institutions (United States)
J Political Science > JN Political institutions (Europe)
J Political Science > JN Political institutions (Europe) > JN101 Great Britain
Date Deposited: 01 Jun 2017 09:15
Last Modified: 16 May 2024 06:36

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