ABSTRACT
The triple crises generated a host of controversial responses, but one main effect was the marked rise of nationalist populism. The dramatic consequences of the 2008 economic crisis and the introduction of the restrictive austerity measures that had strongly aided Europe’s recovery already had quite dramatic consequences. Social differences started to broaden, and the income of the top one percent of the population sharply increased after the end of the Cold War. The globalized economic system served the more advanced countries and their multinational corporations, which were the monopolists of technological innovation. Multinational corporations proliferated, partly stripping down national governments and institutions of economic control. A number of developing countries, particularly the Asian Small Tigers and then China and India, rapidly industrialized, and have shot straight to the top of the list of global exporters. Manufacturing employment, on the other hand, was increasingly replaced with employment in financial and other service-sector branches.
